If you're going to sell the properties with or without rehab you'll want to have a robust CRM to manage your distressed homeowner/buyer/attorney/vendor lists.The advice from Bruce is solid...start slowly and you'll figure out exactly what you need as you proceed. 

Especially in areas where distressed homes are common.

Save as much of your income as you can, buy 2 distressed properties a year, do BRRR's and use the capital from the refinance to help fund the next 2.

If your looking to generate off market distressed seller leads, then I would look into Investor Carrot. 

Distressed homeowners are typically pretty down and depressed already given their situation. 

What is the average/normal financial incentive given to realtors that provide you leads of distressed sellers that are willing to sell RE at a discount?

If the assessed value is really low (this will be the case with very distressed properties or very distressed areas) you may want to figure the deal at 2% of 90% of ARV as the assessment will likely go up in the next year or two.

A project will have a life cycle that spans close (purchase of distressed) to close (sale or refi at new value). 

I was hoping it would help me find a distressed home to buy but I didn't give it much of a chance before my trial expired.

Or if you want to do it, learn to buy distressed, fix up and pull money out but not as much as people think like 80% probably closer to 75%.