Based on my research and your input, I've narrowed down my targets to: Ohio, Georgia, North Carolina and Pennsylvania (where I reside). 

My suggestion would be to read as much as you can and get to know as many people as you can in your target market. 

The best thing to do is to target multi family properties where you have already run the metrics through air DNA and know that they will perform nicely.

If you're going to do DMM you either have to hunt and source your own leads or stand out amidst the competition.For instance, I've also seen investors who target struggling homeowners and offer JV deals directly with the owners.

Have no clue what it entails to sell or price the house, have super crocodile bath breath, have no idea what upgrades are worth, have no clue what items of their house brings value and what items do not, and what items actually reduce value (a crappy pool, a desperately needed to be torn down shed) etc. etc.Although motivated sellers, they are in many aspects worse than a blind targeted lead where you have to argue and debate trying to convince them their house is really not all that!

What is your ideal target cap rate to invest in?

Most note investors I know are not even profitable once you account for overhead and G&A costs.Also - You can have no experience in real estate and wholesale a home - that is not the case with a note.Yup I think the only real targets for these folks Is NON owner occ and bare land and commercial notes..  

But like with ALL LISTS, the goal isn't to know the exact situation, it is to narrow down your target audience to those most likely to be interested in your specific offer.

You will get return mail on the vacants that obviously are still vacant and the owner mailing address is the same as the target property address.

@Joshua Rosenwald One of the teams I invest heavily with has targeted many of the Dallas submarkets over the past 24 months including, Plano, Richardson, Haltom City and Fort Worth.