Well, in my opinion you know what has to be done but doing it is another thing.  In this profession, you must be 100% accurate 100% of the time.  It is not a career to get rich quick.  There are alot of expenses involved too such as e&o.  Which I assume you have for  doing closings.  Contact your insurer and find out if your policy covers abstracting.
If you know any abstractors, I suggest getting a bit of formal training.  Perhaps follow them around for a few weeks or try and  get a position with a title company or attorney.  Hands on training is the most valuable knowledge!  Even taking a class on abstracting at a community college will help but getting the hands on is the best advise I can give you.
Too many times we have seen people try and train themselves and end up missing things or not reporting things found that really need to be shown on searches.  I admit I don't know everything after doing this 12 years.  I still  see new things that make me raise a brow. 
Read through the past pages of message posts here and see what others have had to say on this topic.  Hope this helped.