These properties are typically valued around $80-90k.

Or more typical 2-4 unit residential? 

@Matthew Charron I do hope someone takes you up on your offer.In case no one does though, I'd recommend you attend a local real estate investor group like Black Diamond REI in southern Mass. or RI Real Estate Investors Group in RI.You'd want to engage several people in conversation, particularly during the times at the beginning and end of the meetings when folks typically network, and maybe ask a few folks out to coffee.Many people look for "mentors", and that might work for you, but another approach to consider would be just to try making friends with people who are one or two steps ahead.So maybe they're not successful full-time investors (the Holy Grail of Mentor-seeking), but instead own one or two rental properties, or have done one or two successful flips, or really anything in one of the directions you want to go.I find that can be easier to achieve, and you can get a lot out of it because such folks are very familiar with the challenges you face - after all, it wasn't long ago they were at that same point themselves.

Response rates are typically 0.5-2% so the bigger the list the better.

Typically inspections, appraisal, financing.I make sure I keep things moving through so my contingencies get removed.

@Tom Tesmer what is a typical buy and hold deal looking like in that area?

They don't have their hands tied with regard to the number of loans you have.Hard money is typically for flips, but you can get an unlimited number of commercial loans for long term rental properties.

- What percentage of total revenues do third party operators typically charge? 

I'm getting quotes on 20% down ($185k price) of 5% and up.  Should I keep shopping around or are these rates consistent with what others are seeing? I'm in DFW / Dallas area.

To make a strong offer, you need little to no contingencies, quick closings (typically), large EMD, POF, and an ability to create a spread for profit.