I understand I wont make fortunes out of medicine, and I'm not willing to do the Time/Family-for-money exchange, other than the amount that will satisfy my need to help the comunity and get me my experience, but either dont believe on a magical secret solution, rather I am looking forward to get educated and learn from you, more experienced people than me on how to make smart investments.      

During the end of 2012 i have a major near death experience. long story short my credit was destroyed, i had to file bankruptcy and my health has fade drastically.

Trees growing out of control, surrounding fence completely destroyed.

However, I usually teach methods on how to find these without national MLS, but you wont always find them where you live.Secondly, finding the right market it the most important aspect of this.

If this is a newer property and the risk of capital expenditures are low, your 10% of rent repair costs might be adequate, but if this is an older property, a roof or furnace will destroy several years of your cash-flow, you may want to factor in more like 15 or 20% for maintenance/cap ex. 

The first tenant in the place paid rent for three months and then proceeded to destroy the place and not pay rent.  

Cash flows seem incredible and destroy the 2% rule, but I just don't know if I want my first investment to be in a D area.

I'm likely to start a company while at my brokerage  so I'll be covered by their E&O insurance & wont have to get a broker's license.

Books wont give you the real world experience.

I would just ask the home owners, Either ask if they will sell for what they owe (or just ask how much is owed on the loan) If the wont take lower just tell them "I am willing to buy your house today and save your credit, what is the absolute lowest you will let this house go for?"