This was originally, and still is, set up for Out of State TurnKey opportunities (us staying onboard is the clincher), but it has become so popular within my REIC, the opportunities are usually gone before my OoS buyers can grab them.

It was always more popular on ceilings(long long ago)Skimming and leaving smooth is your best option. 

I have decided to pursue Single Family homes, for what are probably typical reasons, and I have focused on simply buying a new home from the same popular builder in my area who sold me my permanent residence, and renting it using professional property management.

The gray area is why is it such a popular entry point for newbies in real estate and if it's illegal, one would think it is necessary to police every wholesale transaction?

Wealth building networking events are very popular too.

A recent study, utilizing data from popular website Trulia, has been able to provide us with an insight into how housing prices have recovered compared to the prices observed between pre-recession and post-recession era.

But the markets you mentioned are very popular for investors, and considering you've never bought in those area's its going to be very hard for anyone to give you a home run deal straight out the bat.

The popularity of real estate investing has exploded so your lower rung properties have increased competition and you will always be bid out of the properties is your trying to buy using a "70% rule"

A family memeber and I have been looking at a building in our small downtown area next to a popular hot dog shop/bar.  

I tried a little bit to chase the company down, but Empire VII seems to be a popular name in real estate all over the country.