That could be a great way to find and stay engaged with local investors, realtors and opportunities. http://www.biggerpockets.com/alertsYou can also search for other investors or brokers in your market and follow their journey on Bigger Pockets here: https://www.biggerpockets.com/search/usersBest of luck to you and look forward to following your success on BP!

Curious how investors have done this or what should be the best steps to accomplish successfully?

If you are looking to purchase a home that needs rehab I would sit down with a mortgage broker and discuss your options and tell them you want more info on the FHA 203k loan and the Fannie Mae Homestyle renovation loan.I have had several clients here in Connecticut use both loans with success and they typically chose one or the other based on their personal situation.

And what are some things you guys do to build a strong mindset for success for something like this?

If they want to pay more than 40%, make sure it is by wire transfer from a domestic bank. 

However, I am confident that I would be able to successfully generate buyer and seller leads at scale using Google/Facebook/Instagram ads, so I am tempted.I've also thought about using my marketing experience to get leads for distressed properties and then wholesale them, but again I'm a newbie when it comes to investing in real estate, so I don't even know if that's practical in my area (Seattle).Are there any other paths I could take that comes to mind?

Wholesaling as you may or may not know is a way of investing in real estate by placing properties under contract typically at below market value with the sole purpose of transferring that contract to a cash buyer at a...

 A gradual increase may have been a more successful approach.  

Good, caring PM's exist that want owners to be successful while still making an honest dollar.I was with an attorney for a very large flat fee ($75.00 per month) PM firm one day and he was proud to convey that the average gross per door was $250 per month and the average tenant duration was 8 months. $75.00 per month is clearly total BS marketing and if I had an 8 month tenant duration I would be pissed as an owner.I take great pride in the service we provide with only 2 fee's to owners, a lease up fee and a % per month.

If you want to be a RE investor, you can't be successful by doing such low cash flow investments.