Folks use an LLC for anonymity and liability protection.

I'd highly encourage you to reach out to folks providing value to other people in the forums and see if they're accepting clients at this time.

For the low-interest mortgages, I personally would never pay a cent extra, just let my tenants pay down my mortgages, because I can earn more even on a short term CD than I would paying them down.

Draw the line based on what is the return for each. if it costs and extra $40k to get you $40k price increase it is not worth it, it has to add value to you.

-Do folks have ideas about the best ways to source (i.e. find an option seller) for such deals?

Also another lender reaching out to me to lend on the deal and they aren't even looking into the deal and thats another way folks will get scammed through a broker.

Asset hunters find unique assets and things others can't see (extra land for an ADU, extra room for another full bath, etc.).

A good deal will always be a good deal so it shouldn't stop you from taking advantage of an opportunity but depending on what you're looking to do and where the properties are you may want to budget for an extra month or so when selling on the back end.

How do folks make the ceiling dry and fix it?

Watchout folks if you don't have an experienced partner in pre foreclosure.