I was able to help several set up a bank account, LLC, and even checked out properties for them in my neck of the woods.

I'm committed to educating myself first as much as possible, and I'm hoping to get advice/comments prior to my first investment from the community (online and local) as I go thru this journey.

Or is there an online channel I would use to request this information.

This doesn't yet take into account repairs, etc.I am new here and wondering if there is something significant I am missing in terms of these rough calculations.

I looked online and everybody acts like they do foreclosures, but they really only do bankruptcies once I called a number of them.

Always do the math analysis on a prospective property and try to look at it of at least have a clause in the sales contract that allows you some time (about 15 days) to make a detailed inspection and possibly walk out of the deal without a penalty that will hurt you too much.The thing you also should do in the beginning is to have a Team put together that typically have an Attorney, real estate Agents, a CPA (or accountants), Inspectors, general Contractors, and Handymen.  

Of course banks were closed but they could have paid Saturday or any number of other days the bank was open.So I email them and ask that if they have paid to disregard my email but if they have not, since rent was now late (I only accept rent deposited in a business checking account) to include the $25 late fee ($15 general late fee + $10 per day late). 

The seller/optionor can easily verify monthly online that you've made the payment.

Looking at my very first inquiry from my very first online ad (craigslist).

@John Thedford Thanks John, I will find out with a local bank and with my accountant.