I simply do NOT want to waste hard earned $ sending out mailings and have envelopes returned to me as an outdated owner / addressee.  

Then you get to profits to split, your portion should be last and include your management fee as that will be seen as a performance based earnings. 

Its all expense money that has to come back to you before you earn any gain and then you also have to pay income taxes on the gain even if long term gains you are still looking at 15% tax.

Jane, I would encourage you to do what you have a desire to do.  

However, if I were you, I would rather use that money for a down payment to get a property in a desireable grade A neighborhood .

I am here to learn and some day ( soon, I pray) EARN! 

I can make a fast evaluation, sign a contract within 24 hours of looking at the property, and close quickly if you should desire. 

You might be able in a better position than many others to either buy it from the estate or assist the estate in finding a viable way out of the foreclosure by a) buying it from the estate or b) arranging its sale to an investor (and hence earning something for the efforts).There seems to be some equity there to work with initially, assuming there aren't any other creditors with claims in the bk petition.

I've gotten a lot of people that say they don't have time or desire to mentor, but I only need one that is willing to help teach me the ropes. 

It is my desire that these properties are redeemed also, so we can part ways before this cat stops biting her tail and let's out one long scream😡