It would have been a better idea for me to have utilised my residential property in the same way you did, but unfortunately I'm currently living in a 1 bed residential, with no potential to extend and house share.

I've seen a lot of deals being presented lately where would-be individual private money lenders are potentially placing themselves and their capital at risk.

I live in El Paso, Texas but there’s not much potential for my goals here, what should I do?

There is so much potential there, yet it will take some heavy investment to get it looking like what is going on at all sides.

Your network is the most important piece for any potential returns when you invest out of state.Hope all of that makes sense.

would they potentially approve it for some making 60-65k a year? 

Simple 1007 option for your appraisal will depict potential rental income, AKA eventual DSC ratio (hopefully) greater than 1:1. 

Gordon,You need to find out if there are any Environmental issues (either actual or potential). 

In that case, I might cash out now, since you probably have a low tax liability, and then find turn key out of state properties with good growth potential and more landlord friendly, than CA.

Yes, contact the realtor board.If you want him to get a smack on the hand that hurts, tell his employees that he's not paying the employment taxes.