I am not confident that an offer of $365K financed with a FHA 3.5%dn loan will even be a competitor.

In your case, the larger complexes are not competitors.  

Don't look at the hotels as you competitors, they really are not.  

(We had 23 evictions all of last year while this competitor had over 400)Ask about their tenant retention.

Given this area is particularly close to Trinity Mills, there are a number of competitors in this exact same area, so it does have a large pull of renters.

If you have some weird other license, like I do in MA...it can be with someone else, but the internal rules of my brokerage do not allow me to hang it with a competitor, thus that one needs to be with a brokerage that only operates in MA and not in other states.

What value would you offer for a $200 entry fee that would entice anyone to agree to this and not simply walk to a competitor?

If you want to hit people your competitors are giving up on though you could use a skip trace service to track down the correct info for that person. 

The funds are also instantly diversified across hundreds of notes to eliminate geographical and property risk, which is something more expensive to do with single notes that have to purchased wholly.The main advantage I see with your offering is that most of the competitors are rehab and construction loans and very rare to find one this is just pure acquisition loans.

In addition, if you decide to go with a competitor, they reserve the first right to match or beat the other companies rate.