I would be in Las Vegas 2-3 days per week and gamble with a daily bankroll of $10K. 

Absolutely, but you would need a bankroll of several hundred thousand dollars to scratch a living.  

I recently met with a local here in Atlanta, originally from China, who has been buying houses cash with a bankroll of $1.5MM cash from friends and family back in China.

Insurance ($500) and taxes ($480) = $82. 228 + 82 = $310 on a house that now has all brand-new systems AND gives me all my cash back to either buy another house (yes) or just bankroll to cover anything that might go wrong.

(more than the number of homes being auctioned that day)  Aside from having a large bank roll to support this type of bidding, are there others ways to secure these checks?  

Bring various denominations, like a bank roll.

If not, you're looking at around 3% of the purchase price as a rough guess for the closing costs you'll have to cough up in cash if you don't have it bankrolled by your lender.2.)

What would be some example financing terms so I can run some numbers on seller financing.I have a nice income and a solid bank roll from 2 businesses - but I hear read about investors who have close to zero skin in some of these deals and that sounds better :) - how common is it?

They got paid well but they also had few things to spend money on allowing them to same a high percentage of their earning.So pick a job that can start building the bank role. 

I frequently use my own funds to bankroll deals but always calculate a cost of money. 8)