I am also a Socal investor who likes vacation rentals I can drive to (and potentially use).

, drive by only cash offers.

What he will do is maybe come out once a month to show you whatever dogs are still listed when he happens to fit the drive into his schedule, or more likely sell your contact to a local realtor who will get less money for taking you out to see listings.  

Usually I’m looking for a 30K profit on my flips, but the economy and market drives those numbers as well.  

Also, consider alternative means of acquiring properties like Driving for Dollars.  ;-)Are you planning to manage any rentals yourself? 

Because the sponsor can fix up the property and drive income, they can likely produce a 14% to 16% IRR, but initially a fairly low cash on cash return, say 4-6%.  

Your geographical location will not be a driving factor if you can source local third party management.

@Christian Estrella I live in south Jersey but work up in Perth Amboy. 1hour and 15 minute drive one way.

So, I wouldn't spend all you have just to get your first deal, unless you can be confident you can do what @Heather Wilkerson did - or it will be your only deal.Can you split the difference - are there markets within driving distance that would allow you not to consume all your funds, but still supervise your team (agent, property manager, contractor, etc.?)

So, I imagine with what’s happening over here with the coronavirus will absolutely keep foreign investors keen on markets like the US, Australia, Uk, Canada, Etc.