I wouldn't recommend this for research purposes. 

For example, a property in San Diego may lose $500 per month ($6,000 per year) but gain $60,000 per year in value, making it worthwhile to "lose" money each month in exchange for long-term gains.I recommend you start with BiggerPockets Ultimate Beginners Guide (free).

Are there any creative ways you’d recommend for me to identify and approach motivated sellers or uncover foreclosures?

The priority is consistent recommendations from active investors. 

Just a tip - make sure you don't just look at the current property taxes. 

For networking and education, I recommend checking out CIREIA (Central Indiana Real Estate Investors Association).

Any tips are welcome!

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

I have purchased the following books:ABCs of Buying Rental Property The ABCs of Property Management The ABCs of Real Estate Investing The Advanced Guide to Real Estate InvestingThe Book on Investing in Real Estate with No (and Low) Money DownWhat order do you recommend reading them in?

If you want please feel free to add me to your Network would love to be part of the team and I am always happy to help and offer advice or tips on my side of the finance part of things!