This is my personal opinion, which probably won't be popular.If you are worried about the cost of hiring an attorney to create a proper operating agreement for your LLC, you probably don't need an LLC, and if you choose to use an online site to create an LLC, you probably get the protection you paid for.

My site is staynestify.com. 

Unlike Robert K and many on this site, I judge a property based on total return.  

You are correct that this site is primarily for investors and I am one.

If I get nervous about the 1st 2 options, I can just not record the new deed and its like I never bought the property at auction and at the point, Merry Christmas to the old owner, because I just paid his taxes.A few things to think about nonetheless.I agree with the advice you received in point #2 since you are not a borrower or mortgagor or guarantor on the mortgage, anything on the foreclosure should not go against you at the credit bureaus.I am not sure about what you are stating in point #3.

Many of the OTAs and lead gen sites, like Furnished Finder, are pushing credit card payments. 99.9% of the time I get a message from FF saying 'your tenant would prefer to pay by credit card so activate Stripe now!' 

Here is their description and note site Their terms state: "With whole note investments, the investor transfers the complete loan amount and is the sole owner of the 1st position on the loan.

The typical rent collection sites are not what I'm looking for. 

For the eviction day, you will need someone extremely reliable to be on site.

My name is Meghan Carson, and I’ve been on the site for a while commenting and connecting, so I thought it was time to formally introduce myself!