If a property generates 2% of purchase price in gross monthly rent, and if my expenses/vacancy/capex equal about 50% of gross rents, then I'm generating about 1% of purchase price in net monthly rent. 

What if I'm submitting offers on my own to owners that are not on the market, would it be safe to generate my own contract ( I know that the safest option is to have an attorney draft one up but I don't have an attorney right now or the means to get one) or is there a source I can go to to get an example of one?

Some of these you could do now, some you might want to safe for when you have a larger budget, but here are a few ideas that my clients use:Signage: Bus SignageBus Bench / Stop SignageCar MagnetsBumper StickersBillboards / at Local Sporting Events Internet: MLS (Realtor.com)Lead Generator WebsitesFSBO WebsitesPrint MediaDoor HangersFlyers Around Town w/ Pull TabsBusiness CardsValue Pack CouponsCoupon SaverPizza Box AdsAD Placement in:Church BulletinsLocal Real Estate PublicationsLocal Business JournalsTV/Radio Commercials on TV StationsCommercials on Radio StationsCold Calls/Direct Mail Campaigns to Property Owners: In Pre-ForeclosureGetting a DivorceWho Live Out of StateWith Low End Rental PropertiesWith Vacant or Rundown PropertiesWith Building Code ViolationsWith Health Code ViolationsWith Fire Damaged PropertiesWith Delinquent TaxesWith Expired ListingsWith Single Family Rental ListingsIn ProbateEvicting TenantsNetworking with:Bankruptcy AttorneysProbate AttorneysReal Estate AttorneysInsurance AgentsOther Wholesalers Real Estate Investor AssociationsTax Lien OfficialsContractorsProperty Management CompaniesDevelopersREO Department of Local Banks MailmanCity OfficialsMoving CompaniesBuildersMarshallsBail BondsmenAgain, don't try to jump into everything right now but copy & paste this list somewhere.

Does this mean that the tenant, upon completing the info and paying for the background check, has to give me permission to see it, or is the report generated and sent to both parties simultaneously?

I have been scouring the usual places (wholesalers, foreclosures, Craigslist, etc...) and working on SEO for lead generation. 

I was about to start the process of building a web site to generate some seller leads.

A fixer upper that you could do an FHA mortgage on ... 3.5% down I believe, and then you can do the same thing a year or two later.Remember ... it's not about having them all by "25" ... its building a sustainable business that works for you, for your family, and generations to come... 

You can get many buyers through and sometimes generate a bit of a buying frenzy in the process if it is a hot area.

I want freedom, I want to work "for myself", I want to be successful for myself and future generations. 

TurboTax generates my depreciation schedules, and tracks depreciation taken.