So your success rate is 0.1%. 

Even today, I'm finding properties in a Class C town, with 15%-17% CAP rates.  

Additional streams of income:1) Have mortgage broker present at open house (and charge them "$5000"%) to pre-approve those who want it (but don't make that a requirement to bid).2) Sell the bidder list to other investorsI have not seen any such ads in my area and I'm wondering if it's because this system is not effective or is it because nobody is utilizing it?

My current mortgage is 3.6% on $112,500.

It depends on how much capital you have but I recommend either house hacking (3.5% - 5% down) a 2-4 unit property or you'll need 20-25% down for a non-owner occupant purchase which comes with higher rates.

Purchase, rehab, rent it out and then refi with a commercial mortgage.

Those usually come with a higher rate so I would ask Guild about an escrow holdback.

I lived in the area for a bit, and saw the high AirDNA rating for the area. 

Aking Price : $2.3 millionProperty TypeMultifamilySubtypeApartment BuildingNet Rentable (sq ft)13,400Cap Rate6.11%Pro-Forma Cap Rate 6.70%NOI $140,615Units17Year Built192813 1Bed/1Bath And 4 2Bed/1Bath Unitsin New Jerseyappreciate you thoughtsthanks 

Its just so hard in the current environment to get any cash flow with SFR (unless you bought when rates were lower or are doing a well-executed BRRRR).