It has inspired me to get started and make my first move by acquiring a rental property.

I honestly only contacted a few people with cold calls so I'll resume doing that instead of waiting around for me to acquire my license and finding folks willing to help me find investor friendly folks to work with.  

Based off of a $50k purchase price, was going to put $12,500 down and go for a 15 year mortgage on all of the properties as I acquire them.

What is the best way to try to acquire the property before what looks like the final stage of 'Action'... during the earlier stages such as 'pre-foreclosure'?

Here is a web site you can go to that has advice on foreclosures legal remedies.

I have a lot of free time and getting back into a business i enjoy and my passion for Real Estate investing -- wholesaling while acquiring knowledge to creating a business plan, buy and hold, and fix and flip.

Leveraging will help you grow your portfolio the fastest.You can buy a property, and build equity in it, and then using a HELOC or equity loan you can take the equity out of the property and acquire a second one.

Would you be buying/acquiring via an LLC? 

An intentional misrepresentation of a material fact in a rental agreement or application may not be remedied or cured.

I understand even with the minimum payment, it would eat up the cashflow, but even then, it will let me acquire a downpayment on a property.