If everyone is capable of participating in a certain investment, then the returns will normalize.So why do people still buy real estate vs. the stock market?

i think a bigger problem is that the property you contracted to buy did not match the legal description If the property had three separate deeds and was not one parcel that might be a big  legal out on your contract  ( i am not a lawyer) Legal fees can be quite expensive so I hope your deposit is large enough to fight for .The sellers cannot sell there property while in escrow which might give you some leverage

Are you capable of working up all these other details about the project?  

I have high aspirations and I have set a goal to have completed two deals befor the Mcgregor-Aldo fight and go to Vegas and watch it.

Also, you only get 4 or so loans until you can demonstrate you are a capable owner, so if you burn them up with small properties, you reduce your leveraging capacity.  

There are a lot of investors fighting for the smaller number of deals, however if you market and network I'm sure a deal will find you.

After the fight you've put up, you'll do great!

I was sure they'd all be fighting for a chance to provide a mortgage for me (ha!).

However I have also heard of people capable of getting an ad to convert for under $1000.

Too many investors get involved with lease option arrangements without understanding the requirements to get the ball acroos the goal in the red zone, in other words, you can fight your way down the field, but if you don't cross the finish line, the goal, it's all for nothing.