My wife and I have overhauled our personal budget to reflect the 'pay yourself first' approach (allocate in order: income comes in -> invest -> donate -> fixed expenses -> variable expenses -> fun $$).We are looking to see what experienced people generally recommend for a holding tank for that 'invest' allocation while we target our first real estate deal.What financial vehicles have you guys used that works well for this?

.: What is the average conversion rate for cold calling using software like PropStream, specifically targeting probate, foreclosure, or tax delinquency leads?

How do you determine a reasonable target return?

Targeted marketing would come via social media, which is usually priced on a $ per impression or $ per click basis.  

You have a far better chance trying to sell to an individual than targeting hedge funds.

As for the areas to target, my goal in getting our feet wet as real estate investors--and since we plan to be living in Sac--is to find a property we can live in while renting out one or more units to help cover our housing expenses, which we can then hold and continue to rent out when we move.

My strategy would be to target properties which are most likely of the owner NOT redeeming.

Squatters are a real problem nationally and a study found that they target not only vacant properties but those advertised for rent or sale that offer 'immediate occupancy.' 

That can make it easier to communicate the opportunity effectivelyTo expand efficiently, consider targeting local real estate meetups or investment groups San Diego has a strong investor community.

From a personal standpoint I target 70% LTV for any investment I have that way gives me ability to sell it if I need too