I'm not sure if Carlsbad is a competitive market, but it's always good to get a mix of lists - Absentee Owners have been a long-time go-to for mailing.

A new highway was built 2 new roads close by, there is much brand new industry and approval for 1139 new apartment units across the street.The 2 houses need rehabbed or torn down, the mh has an inherited occupant,.paying rent.

However, I do operate these in rather competitive markets where design is really important and having a "cool" look is a must. 

Do you think there might be a lot of sponsors promising these returns just to be competitive with others and just hoping and praying?

Dallas is a really competitive market - but I myself am investing there as I live there.

I am also wanting to learn about the laws in the real estate industry along with the technical aspects of the transaction process.

You might see office at 10%, mutlifamily 8% and industrial at 6% all in the same metropolitan area. 

Competition for investor deals is tough.

talk to Peak Asset Lending in KC  @Alexander Felice  banks generally wont fool with stuff this low unless you have existing relationships with them.. the cost and risk of having a default far out weight what a bank can make on a 15 to 20k mortgage.but i have seen small local commerial banks do these for local citizens that own 10 to 50 homes and its their cottage industry so to speak

Do you want to be strictly in real estate or do you want to invest in other industries as well?