There is a good chance they will eventually pay up and that will include all your court costs as well as rent, penalties and damages.These tenants are defiantly worth perusing.

Most tenants have the belief landlords do not take collections seriously, rightly so, and will not peruse them for payment. 

You can peruse upcoming events to get an idea of when, where and how often they take place.

In the meantime, I have been perusing the retail market and learning about cash flows from the owner perspective.

I like the flexibility of unlimited monthly plans or per use charges. 

Rent * 75% is not the correct calculation here, you will know you found someone probably doing it right when you see them perusing your Schedule E, leases, and mortgage statements. 

I just got my interest peaked in my crazy online search for and affordable real estate investment but haven't the slightest clue as to if I should even begin to peruse just for informational purposes or actually roll up my sleeves and go for it.

If you don't mind me asking where is it located and why are you perusing private funding?

This means, that the cost per use is reduced every time you reuse those same funds.

@Grant RothenburgerGood point about perusing BP!