"If you operate your rental for a gain or profit, you are engaged in a trade or business".

You have to do your own research and I would also recommend engaging a local property mgt company and get their perspective on the property.

Or will traditional lenders shy away from this type of engagement?

I'll play the devil's advocate and say that you absolutely do need your own website/mailing list/CRM/etc because those are the only platforms you can truly own your customer data and engage directly with your customers without the filter of an intermediary stepping in to define the rules of engagement. 

.- Social Media: Follow and engage with real estate investors and groups on social media platforms like Facebook, LinkedIn, Instagram, and Twitter.

Any advice would be much appreciated.Thank you for all you do,Stephanie  You need to engage an SEC attorney.

You need someone that clicks with you personally before engaging in a mentor/mentee relationship with the dedication and stress that may be involved.Where to find a mentorStart by looking within your existing network.

Contingencies should include: inspections over a specific number of days (note the plural on inspection so that if you want to walk the property with contractors in addition to an inspector, you can do so.Financing - not just the ability to acquire it but the get an interest rate that is acceptable to you - which is normally defined as the prevailing rate for a defined mortgage (fixed, ARM).4 point/Insurance - note that an acceptable 4-Point is required for the engagement of insurance; should you not be able to get insurance on the open market, you can cancel with your escrow returned.Vacant Possession - require the property be free from trash/personal items/tenants - and/or any commitment to rent the property - on the day of closing to be verified by a final walk of the property by Buyer.There's more but these are the ones that I recommend every contract should contain. 

This would be a temporary project-based engagement. 

That could be a great way to find and stay engaged with local investors, realtors and opportunities, as well as folks pursuing out-of-state buy and hold rentals. 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!