How do I research within a distant city, what spots are worth investing in or not?

We got in a bidding war once, and it was very stressful, and walking turned out to be our smart move too.You are spot on that you cannot put too much energy into lining up the finances.  

I just went over to  a house I have been considering buying over the past few months , and did a Lead Paint test on various spots on the exterior of the house...... and sure enough, it tested positive for Lead paint.My question/concern is ..... what will be required to get the house appraised and or Inspected and approved for an FHA 203K loan ?

If it's not in the heart of where all the crime is (or even better, it's in a spot where it could possibly turn over and gentrify), then it may not be that big of a factor.

My zip and the surrounding seemed pretty spot-on. 

You can wait the 30 days or schedule on the spot for the sheriff to show up in 30 days for the actual eviction if they're still there.

Account Closed is spot on.

They need new carpet, a solid clean out, and some of the floors have some water damage which would need to be repaired (along with the spots in the roof that caused the leaking).

Well spotted @Doug MerriottYou will have to take out flood insurance with an FHA loan and it will be quite steep if the property is located in an A rated flood zone.

I think you're spot on about not directly asking someone to be your mentor and going more for the 'let me take you out to lunch' angle.