I spend a lot of time in the area and move quickly on any for sale that interest me. 

No sense in spending $ to file for a judgement they will never pay.

Bank seller is not amenable to spending anything on the property before I settle.

I've lived in this city since I was 5 and it's been exciting to see the growth and changes that have happened and that seem to be in overdrive throughout the area over the past few years.There are definitely places to find good cash flow in the area but if you're wanting to spend lower, areas 30-60 minutes out of the area like Ashland City, Clarksville, Columbia, Hermitage, Dickson provide the best deals. 

Most people spend 1-5 years "learning" or "getting ready" be sure there will be something to show 5 years from now.

Pros - My PM is fair and honest, makes reasonable decisions, is a decent handyman, builds valuable relationships, is easy to contact, is very cost effective, strong and handsome.Cons - My PM tends to read the news and drink coffee too long in the mornings, takes too long for lunch, randomly stops working in the afternoon, will spend 8 hours working on something that takes a professional two hours, drives a crappy Ford Ranger and buys work clothes at Goodwill and is neither strong nor handsome.

I certainly think it would be worth your time to spend half a day looking at some possibilities. 

I have actually seen someone who invested all their money while the wife would just work her 9-5 and spend her money as she wanted, just to have her divorce that person and take half of everything.

and recently, I've been spending a lot of my free time reading books on investing in real estate and listening to podcasts here and there.

For $50 why not, but be advised that whether you spend $50 or $2000 it’s not going to provide 100% protection.