We were reached out to by a migrant housing group member asking if we would house a immigrant member/family/etc. where the nonprofit would provide a 12 month stipend to cover for the "whole" lease.

This will also help determine what type of home you ultimately purchase and provide your beginning foundation.  

This can provide unique investment niches.Cons:Limited Local Knowledge: It can be challenging to have the same level of familiarity with an out-of-state market.

No I have given only data.So when you add all this up, the first thing you need to do is get a website and make it credible.Polish up your social media accounts, create a professional banner and start creating content that is engaging.You want people to start interacting with you.Then provide value wherever you can (like I am doing on Biggerpockets).

This is partly because a substantial down payment provides an exit strategy, such as selling the property, if financial challenges arise. 

It provides a lot of valuable data that I use for projecting income on a specific property.

It's coming b/c it is going to provide liquidity AND lower investment risk (decreasing cap rates and increasing property valuation). 

Find a mentor -  someone who will provide you with the credibility when you lead generate with homeowners. 

Once a relationship is established, then you can be provided 506 b opportunities. 

I reminded them they couldn't check into a hotel without an ID... they agreed and provided it lol