." - This is totally incorrect.

For $15,000 we did receive the following: list of cash buyers and real estate agents, zero value, Podio with full app suite value $50.00, 2 InvestorCarrot landing pages with spelling errors and incorrect phone numbers value Zero, 2 postcard designs value $50.00.

Anyway, I'd posit that a lot of your assumptions are incorrect but only time will tell :)

There is always something happens like incorrect billing, forget raising rent, over charging on repair and maintenance, and to deal with a completely clueless staffs.

Whenever someone would ask about the law regarding this type of foreclosure, a poster would show up and post erroneous and incorrect legal information and then offer to connect people with hoa foreclosures they had for sale.

Gurus usually illustrate only the income appraoch, usually incorrectly, because of two reasons in my opinion, one, it justifies their strategy and two, they can't really value a property, Valuation is beyond the scope of there "Secret Strategy".

Am I doing something incorrectly?

Was I incorrect in my assessment?

I think self-managing is a great way to start, learn, and build your real estate investor resume but you need to ensure that you are comfortable spending the time and have the desire to learn to do it right, because there are a ton of legal requirements and harsh ramifications for doing something incorrectly. 

A lot of lenders calculate self-employment income incorrectly.