I think a lot of the potential mentors are new to the role and are looking for a framework to help them determine who a good mentee might be.

Take the above with a grain of salt and as a mental framework to consider, since I do not know your full situation, personality, or skill sets.

Find a mentor/community that has achieved what you want to achieve and learn their framework.  

Using that basic framework, this research checklist will help narrow things down:Job GrowthPopulation GrowthJob DiversityLandlord/Tenant LawsTaxesGeographical FeaturesCost of LivingLocal NewsLocal GovernmentWhether You Have an Unfair AdvantageYou’ll focus on finding a strong sponsor first.

, and is the new regulatory framework solving the problem that many say is to blame for the financial meltdown in 2008?

It's also important to include your CPA in these framework discussions.  

Scott's Book on Flipping  Houses discusses this in depth so it will definitely give you a framework.  

But its tough to step into a bathroom and a kitchen for less than $12K.Send me a dm if you have some specific questions, I think I can give you a basic framework on about what labor costs are going to run, 

Sounds like you've got a good financial framework established.  

I live and invest through a framework that keeps me comfortable and able to sleep at night.