We've had thousands of folks flee even more pricey metros (NYC, Boston, Chicago, etc.) come down here since Covid so, although it's relatively cheap for them by comparison, it just makes getting even decent returns tough. 

The next step that I recommend, is find a partner who has credit and a decent net worth.

The cosmetics are usually decent because mommy wants baby to be in a nice place, but there is often problems with old mechanicals, aging roofs, etc.Student rentals are its own art.

You’re also unlikely to get any decent financing.If the property is already zoned for 4 units then you’d need to pull permits for the work already done, have it inspected, and redo any work not up to code....which would probably be a boat load of work and time.  

I would find a local meetup for real estate investors in your area, I am sure you can find one decently close that would allow you to connect with other investors and wholesalers. 

At the moment I am using a free skip tracing site that is extremely unreliable which could be a big reason I am struggling getting decent leads.

Your nights and weekends are shot and you’re glued to your local area.

I feel confident in what I'm looking for as a first investment property purchase: a SFR with decent cash flow ($200-300/unit) and some added appreciation down the line would be nice.

I think 20% is easily obtained with a decent credit score. 15% will be a little more difficult.

The product, as you mentioned, has a very thin wear layer AND the plans tend to be so rigid that I spent a decent amount of time fighting the warping from the pallet bands and cracks in the cheap T&G parts.I've since moved to a twice-the-price ProCore LVP product from Floor and Decor that has matching quarter-rounds, stair treads, and about anything else I need.