I am not totally sure what "poor business practices" entail but I can imagine a big bad bank would do anything in their power to get their money back on non-performing loans.

Investing in real property and either leasing it or flipping entails very little legal risk from the contacted party.  

(a) Unless the lien of a mortgage, deed of trust, or otherinstrument that creates a security interest of record in realproperty to secure a debt or other obligation has earlier expiredpursuant to Section 2911, the lien expires at, and is not enforceableby action for foreclosure commenced, power of sale exercised, or anyother means asserted after, the later of the following times:(1) If the final maturity date or the last date fixed for paymentof the debt or performance of the obligation is ascertainable fromthe recorded evidence of indebtedness, 10 years after that date.(2) If the final maturity date or the last date fixed for paymentof the debt or performance of the obligation is not ascertainablefrom the recorded evidence of indebtedness, or if there is no finalmaturity date or last date fixed for payment of the debt orperformance of the obligation, 60 years after the date the instrumentthat created the security interest was recorded.(3) If a notice of intent to preserve the security interest isrecorded within the time prescribed in paragraph (1) or (2), 10 yearsafter the date the notice is recorded.

I'm definitely interested in house hacking flips learning more about wholesaling and what it takes to build a good network of solid friends, investors, and everything that this exciting Venture entails.

They're in C areas mostly though and usually require some repairs (included in above numbers), so entail a bit greater headache.

I thought the proper order of events entailed bringing a prospective property to the lender and showing what the end goal looked like (ARV, rehab costs, purchase price, exit strategies, etc.).

(I don’t have all of the numbers in yet from the subcontractors to know an exact price for the rehab) The major projects would entail a roof, the garage some concrete work on the outside.

We foreclosed, took possession thinking was abandoned and borrower came back asserting her right of redemption.

I have two recent duplex buys sitting there waiting for a conversion so I know the financials intimately but for people w/o experience, you really need to understand what it entails. 

Get your license if it makes sense for you personally, but educate yourself on what being an agent really entails.