I used to live in Hawaii , and the entry barrier is just high.

I'm going to give you some advice because I know the borrower profile that big box lenders like.First, get your credit as high as possible. 

The two main downsides are finding syndicators and deals to invest with, and the high minimum investment - $50-100K if you invest by yourself.

What I’ve noticed about mobile homes for 10k and less, the “quality” might not match the standard if you were looking for newly constructed/finished homes.

If a new investor comes in with a 300k purchase and a 200k rehab in a high end market where it will take 3 months to sell, a lender will not be so hot to lend a newbie in that situation.

Even with relatively high rates, deals are still moving quickly here. 

Quality people attract and keep quality people.

Are you better served on a highly competitive offering with dual agency and dealing with the seller's broker directly? 

Im in NJ, but not sure it's the right market for me due to very high taxes and cost of houses. 

Seems like short term would likely generate more revenue but not really sure about profit when you consider vacancy and property management fees of ~30% (I would consider remote management but I would think cleaning fees would still be ~$400/mo. which is high).