Thank you all who responded, I plan on spending some time driving the neighborhood and talking to anyone at the local coffee shop who will talk to me. 

You indeed have to spend that much money.

@JD Gunter I agree and should add that I spend 2-10 hours on the phone/zoom with each applicant before I let them into the program. 

So rather than buy the property at $100,000 and then put $50,000 into it in repairs, I may tell the seller that I plan on spending $50,000 on repairs to fix up the property and I would ask the seller to sell me the property for $150,000 with a rehab credit of $50,000.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Could be the best money you spend on the deal!

Spend your time and money learning how to avoid that kind of situation rather than learning from on the job training.

I’ve got great tenants in my SFH so I spend very little time on that every month but in my market the Multis just make more sense.

before you spend another PMCs time. 

I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong).