Bad things happen and $200 a month can't possibly cover them all.There's room to play with the numbers but you need to know the basics and your local market before attempting that.

I know how to find and analyze a deal, how to negotiate a deal, I am familiar with most of the different types of financing I can attempt to acquire as an individual.My biggest question at this point, I suppose, is what types of financing can I acquire as a corporation and what types of properties and deals can I leverage against.

I have a lead on a property that is currently in preforeclosure and I want to attempt to purchase the property subject to the mortgage.

Nothing in this Code section shall preclude the landlord from retaining the security deposit for nonpayment of rent or of fees for late payment, for abandonment of the premises, for nonpayment of utility charges, for repair work or cleaning contracted for by the tenant with third parties, for unpaid pet fees, or for actual damages caused by the tenant's breach, provided the landlord attempts to mitigate the actual damages.You can read the entire law HERE.

Reason you don't hear about it much is because 99% of people attempting to wholesale flame out before they make enough noise to be noticed.

That way you have documentation that you make an attempt to address the tenant issue. 

@Jeff Kehl Agreed, why do you think most investors don't understand or attempt these types of deals?

However, there is nothing that would be wrong in doing soI would hope this would not be an attempt to control the property for a couple of days by presenting a check that would bounce? 

I've been looking into real estate investing for over a decade and my first few attempts ended horribly since it was around 2007 - 2008, timing and limited strategies stopped me in my tracks. 

That is an attempted theft, from you.