If you're in Frisco or any nearby Texas city, and are willing to accept an intern to mentor who'd be willing to show me the ropes, please do...At this point finding a mentor in the summer (anytime without school) would be my best card at the moment.

Beruk,Congrats on your new journey in real estate, I suggest that you get a mentor that will get you going in the right direction and always invest into education rather it's book, seminars, courses, mentorships etc. 

Matthew,I would highly suggest that you find a good mentor and once you have some one that can show you the ropes, everything should open up.

Yes there are ways to mitigate these risks but it's scary that I don't have any mentors at the moment that are investing in the same area as me.

Networking at events is a great way to connect with people in your community and find an investor who may be willing to be your mentor.  

I'm actively thinking about my target areas and possible deals, but would really appreciate if there were any groups or mentors available interested in discussing the ins and outs of favorable market locations, financing, ideal type of investments and getting that elusive First Purchase!

Luckily, I spoke to my mentor before the appraisal, and told me "you know that you need to send the comps to the appraiser, right?"

She does not mentor her students.

You can also find a mentor to help you do your first project. 

You can find loads of articles, videos, and online courses that'll give you a solid foundation in construction basics.Network and Find a Mentor: Try connecting with people who've been in the game for a while.