BUT I DO WANNA LOOK FOR POTENTIAL DEALS AND PRACTICE ANALYZING THEM FOR A GOOD DEAL OR NOT.

Problem is that I can't tell if the electric was turned off, or if it was a collection from a few years ago that never got paid.

Difficult areas always have higher rents v. property value, because collecting the rent is part of what makes difficult areas difficult.It's no fun to invest in areas where you need a 7 iron to collect rent.

I really wanna practice doing these calculations so that i can really begin searching for possible investments.

I would eliminate the practically useless agent by going direct to the homeowner.

Should I go collect all my signs because of an ethical dilema that someone may call me on a previously sold house?

I collect $600 in rent.My current residence just appraised at $81,000 and current Mortgage including T& I is $575 and based on comparable rents in my neighborhood I believe I could rent it between $750-800.I have been saving for large down payment (approx 50% down) on a newer house within 1 year's time.

There are some amazing minds collectively here on BP when it comes to Buy/Holds......here real soon I'm sure you'll hear from Jon, MikeOH, Will,(if I forgot anyone I'm sorry) and a handful of other successful buy/hold guys/gals....the 1st thing they're going to tell you is to go to the landlord forum here on BP and read almost everything, more importantly the 50% rule.if you think you've got a deal, post up here on BP and it will be quickly analyzed by some of the greatest minds that are investing today not 20yrs ago

I finished my design work for David and collected my fees.

What about rent collection - is it reasonable to ask tenants to pay by mail, or what other option would you give?