Is it mainly through networking and events? 

So I just saw this post about Section 8 HUD tenants, and this post stated something along the lines of section 8 tenants being more likely to damage properties because they're section 8 low income tenants, and also something about investors not wanting to put money needed into Section 8 properties because they think they're just going to be ruined by these Section 8 tenants, and as someone who knows the entire process with investors, owners, contractors, tenants, and prospective tenants, this is what I have to say about it:In my experience, Section 8 HUD tenants are actually better custodians of the property because of many factors, but 3 of the main reasons being, there is an annual HUD inspection that is performed on each property, so this gives the owner an extra 'protection vector' against damages, also, the initial placement of a Section 8 HUD tenant requires a passing HUD inspection, therefore there's a record of the property's initial state prior to move in, and additionally, they want to have an easy renewal voucher process annually, and their unit remaining in good condition is an incentive for those reasons, therefore they are LESS likely to damage a property - their future depends on it!

If we do end up going that route, I was thinking it might be a good idea to rent out the basement and live in the main house (house hack).I did some Google searching to see what a basement might rent for in that area, however, I was having a hard time finding any listed anywhere.

I am using Left Main CRM system and love it.

The broker I'm working with, mentioned that any company can cancel any policy within 30 days of approval and that any premiums paid will be refunded, but my main concern is to get a policy in place for this property.

One main downside that I see with syndications is the fact that they don’t provide ongoing long term dependable cash flow, which is what I really am aiming for if I want to be able to afford to cut down my hours.

So in reality THAT is the main difference in the 2's economic plans, one is pro-main street, the other is pro-trans-nationals or better put the big C-donors. 

The main difference is you'll have startup costs and higher vacancies.

Potential Challenges: Given my tight schedule, what are the common pitfalls or hurdles that could arise in managing a BRRRR process or any other investment strategy in the local area?

I invest in Louisiana, but mainly because I live here.