Establish credibility, promote the deal and then offer the opportunity to others. 

Make sure there is more than one established industry that is creating jobs and be wary of areas that rely heavily on industries that are volatile by nature and cycle through booms and busts regularly.

Isn't it in my best interest to establish relationships with some of the local banks along with the big guys?

I got a civil engineering firm that can survey and apply for subdivision for 10-15k but I have no idea how likely that gamble is to succeed so I can't really calculate ROI.

You can jump around until you find one that eventually turns out to be good, or you can educate yourself on what a good property manager looks like, screen multiple options, and then choose one that suits your needs and has an established reputation.Of course it's not a guarantee, but screening potential property managers will greatly reduce the likelihood that you will have problems so commonly referred to in these forums.I would also point out tthat property managers are typically licensed by your state which means they have a responsibility to you and your money.

I know the deficit is insanely astronomical, stock market is a gamble and the housing market is slowing, but what is the best way to get a foggy but somewhat clear picture of what is going on?

Even with bad credit you can get funding to buy a property and establish cashflow but at some point you have to remember to pay for the opportunity extended to you. 

The classes I taught were: "Money Management Matters", "The Inquiry and Interview", and "How to Establish and Maintain Good Landlord-Tenant Relationships".3.

The only drawback with some of the more established neighborhoods is the amount of updating some of the homes need as I do the agent previews of the homes in the area.

An LLC is known to be established as a liability ploy, a business write off matter for small investors.