You'd be better off just investing in one of the many note funds rather than straight-up gambling for a couple hundred extra bps. 

We have chosen distressed properties because of our past experiences and are comfortable examining properties that need help.

Hey Hughston, start by connecting with the locals in your chosen market.

The 350k will earn 15-20k/yr recouping a good portion of the gambled amount. if that works out do it again.

I'd probably have better odds going to a casino and gambling.

If you're OK with a gamble for higher % gains, that's what we have done with a big chunk of our cash.

After the boys moved, I have chosen to continue and picked up several more properties.  

We have chosen single family housing rehabbing (fix & flip) I am looking for mentorship and great people to guide me or even partner with this field.

First and foremost, if you have chosen a contractor that has given you reasonable pricing, develop a scope of work with him.

Build a team-Get a property manager to handle the daily stuff,and maybe even a local handyman in your chosen state.Use online platforms for rent payments, maintenance requests, and communication.Touch base with your property and team, build relationships with tenants.