You can also contact a local alcoholics anonymous or other organizations and let them know you have space available for anyone living sober.

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

The truth is very few of their coaches and staff members have much experience in the space at all.

Then when you have enough money for the 3.5% down, buy a place that you can live in and rent out spaces to other people. 

As a newbie I would not go into this space without money.

Cold calling IMO is the easiest way to get into the space.

If you find someone at a REA or other investor meetup group that is currently in this space it can make your first time go much smoother. 

My wife and I just closed on a duplex in Oakland, but the basement/garage was already converted into a separate living space with a bedroom and bathroom.

Purchase price: $516,000 Cash invested: $600,000 Converted mixed-use 3 residential and large commercial space into 5 residential units and one mixed-use Building.

I've done a bit of research on the private lending space and I'm coming to the conclusion that it is the way I would like to enter the real estate space.