I just dont understand how people are buying at such low caps ?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

I guess I dont understand what you asking.are you asking can a buyer cash out your equity and just take over your seller financed loan.

Yes, I share the same feelings and dont understand why the information and steps required is SO extensive! 

I also question if they have a good understanding of the effort and risk of residential RE investing.  

Podcasts and books are another fantastic way to get some knowledge in and help understanding the basics.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.

My current goal is to analyze properties for potential deals on BP pro daily and start wrapping my head a general understanding of the process. 

.- Understand what you value . . . do you want to have a phone call from the PM every Friday? 

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.