I needed a property management company I can't deal with tenants directly I needed the buffer. 

I think it would be wise to have an extra buffer, so if you usually buy at 70% ARV, maybe buy something like this at 60% or so. 

Keep some liquidity--Maybe park $100K–$200K in a HYSA or short-term treasuries/CDs as a buffer or emergency fund.

Also to add on to the above, the reason that I haven’t looked further into the investing in another state idea through a property manager is the cost, I have been working at my engineering job for a full year now and have built up some cash from it by trying to budget as best as I can but I don’t think it's enough to buy a property without living in it to cover the downpayment and have a cushion / buffer amount of cash for expenses.

You’ll need to keep meticulous records of every payment received, send statements, ensure tax and insurance obligations are met, and possibly deal with late payments or disputes without a third-party buffer.

This is often a reason for the lower leverage, if they need to sell, they want to have that buffer in order to be able to get if off their books quickly.

If most houses in your area take 3 months to sell, add a month for a buffer, that is what you should expect about 4 months. 

Fellow San Diegan here as well.Just a quick heads-up—if you’re planning medium to high renovation spending, I’d recommend adding at least a 10%+ buffer to your budget and cost forecasts.

With $150-$200 net, it doesn't leave enough buffer for maintenance / capex, not to mention the potential turnover cost, if your tenant decides to part ways after 1 year. 

Driving for dollars and building relationships with wholesalers have been more promising for me.As for defining a “good deal,” I stick to the basics—solid ARV comps, a padded rehab budget, and making sure there’s a real profit buffer after all costs.