Hi macanroe
You can disable editor to see all <p> tags there, go to Global Configuration > set 'Default editor' to None
Then go to Modules > find custom module in 'custom-4' position and check the code of module there.
Here is the default output of this module on our demo site:
<div class="pages_portfolio two main">
<div class="pages_padding module_round_box">
<div class="overlay_hover_outer">
<div class="overlay_hover_inner2">
<div class="overlay_centered"><span class="hide_mobile"><span class="s5_videoicon ion-ios-videocam"></span></span>
<h3 class="s5_mod_h3"><span class="s5_h3_first">Main Campus</span> <span class="s5_h3_last">Virtual Tour</span></h3>
<span class="s5_pages_maintext"><span class="hide_mobile">Take a look around the campus and see what we have to offer <br /> <br /></span></span> <br />
<a class="readon noarrow" href="#">Play Video <span class="ion-ios-videocam"></span></a> <a class="readon white" href="#">View All Videos</a></div>
</div>
<div class="overlay_hover_inner"></div>
<img alt="image" src="images/videoback.jpg" /></div>
</div>
</div>
<div class="pages_portfolio two">
<div class="pages_padding module_round_box">
<div class="pages_square">
<div class="pages_50 pages_top_left">
<div class="pages_fontsize">
<h3 class="s5_mod_h3"><span class="s5_h3_first">Campus</span> <span class="s5_h3_last">Life</span></h3>
</div>
Lorem ipsum dolor sit amet, natum aeterno sanctus ei per, fastidii torquatos nam ex.<br><br> An per quando ornatus platonem, suas prodesset vel ad per, fastidii torquatos nam <br><br><a class="readon noarrow noback" href="#">More Info<span class="ion-android-arrow-forward"></span></a></div>
<div class="pages_50 pages_top_right">
<div class="overlay_hover_outer">
<div class="overlay_hover_inner">
<div class="overlay_centered"><a href="#"> <span class="overlay_icon ion-ios-plus-outline"></span> </a></div>
</div>
<img alt="image" src="images/campuslife.jpg" /></div>
</div>
<div style="clear: both;"></div>
</div>
<div style="clear: both;"></div>
<div class="pages_square">
<div class="pages_50 pages_bottom_left">
<div class="overlay_hover_outer">
<div class="overlay_hover_inner">
<div class="overlay_centered"><a href="#"> <span class="overlay_icon ion-ios-plus-outline"></span> </a></div>
</div>
<img alt="image" src="images/discoverus.jpg" /></div>
</div>
<div class="pages_50 pages_bottom_right">
<div class="pages_fontsize">
<h3 class="s5_mod_h3"><span class="s5_h3_first">Discover</span> <span class="s5_h3_last">Us</span></h3>
</div>
Lorem ipsum dolor sit amet, natum aeterno sanctus ei per, fastidii torquatos nam ex. An per quando ornatus platonem. <br><br><a class="readon noarrow noback" href="#">More Info<span class="ion-android-arrow-forward"></span></a></div>
<div style="clear: both;"></div>
</div>
</div>
</div>
