However I've been told that emails are highly preferable because they can track the IP address....anyone could pick up someone's cell phone. 

Both of these cost you (from rent) utilities, amenities supplies like paper towels, and furniture deterioration.

I recently got out of the Army, and I picked up Rich Dad Poor Dad.

And you flip one and make 30k and then you hold the second one and throw that 30k into a deal that you picked up for 150k. 

As the options come in you or someone needs to analyze their potential, do a drive by, get in to see it, and then someone would need to estimate the rehab - a quick way to do this yourself is ask three different GCs what their price per square foot is on a full gut and average them out and use that price per square foot for your rehab estimates.But let's say you get a funnel started and even analyzers to pick out the gems among the muck, now you need your contractor to come in and give you his estimate and then you need your financing lined up and get your term sheet based on your offer, the rehab, and what you think the ARV will be. 

You don't get to pick them.The math should be fairly elementary. 

I've heard of mentees who started cleaning up construction areas on a flip at the end of each work day or picking up supplies at Home Depot and delivering them to the job site.

What methods do you use to pick up properties?

I picked up on that you were looking at using your 401k as part of the down payment.

Not trying to pick a fight here, but these forums are quite impressionable on new or inexperienced real estate investors and don't want those who read these forums for educational purposes to believe they should expect or accept 1/3 deposits as the norm.