Do I need to build a certain number of potential buyers before I start attempting to get properties under contract? 

Bigger Pockets has blocked past posts I've attempted about meetups, so it's easier to PM you.

A lot of times the asking price is simply too high for the deal to make sense, that's when you seek a discount and attempt to negotiate the price down.

There is little new under the sun, so if you are attempting to plan your way out of assets in anticipation of filing you are going to need legal assistance.

If it is indeed 75% of your regular income, then I wonder how you survived the loan origination process beyond a review of debt to income.If it is a single family property, you may be in for more work in attempting to fill vacancies.

Attempt to mitigate your losses.

So I applaud your attempt!  

This is my first attempt at buying from a list and I trusted the numbers on the list too much.

And to be precise, by waste of time, I mean would I be better served to stick to real estate books, forums, podcasts, meet ups and attempt to learn the game "on my own?"

Lots to unpack here but let me make an attempt to answer the main question.