@Aj Bowman- in terms of the property's market value, this can be a tricky thing to determine with vacant land (a lot of the appraisers I've talked to don't even have a firm handle on how to do it with much certainty - because in many cases, the data needed to make the determination simply isn't available).That being said, there are several things you can look at to help get you most of the way there.

You will need to use an agent if the property is listed on the MLS only because they would have to submit your offer, but if you are paying cash for properties and a seller contacts you directly then draft up a purchase contract that you have an attorney review, then send it over to a reputable title company to handle the transaction.

I'm trying to get a better handle on property analysis and adjustments that I should be making when analyzing a deal.  

We have a full service property management company to handle all your headaches from that point forward.

The contents belong to the tenant and its up to him to get renters insurance for that stuff.

Would it be legal to discuss preforclosures with the attorney handling the case?

Successfully buying outside of your local market comes down to having a good team that can handle any issues that come up.  

I just knew I had to stay on my horse, find out what the challenges were, establish that I was kind but firm, and handle whatever came along.What would I say to my then self now?

How individual states handle that is different, some don't care so much and other love to write contractors fines.Getting a lead abatement license is a compeletely different thing.

Keep in mind the security deposit is not to be used as last month's rent belongs in the bank until the tenant moves out.