The book is useful for understanding how to structure deals, assess risks, and think like a lender, rather than just an investor.Pair this with engaging in forums like this one and attending local meetups to put what you learn into practice.

As I am considering my offer, I am trying to understand how much to budget for attorney, title/closing costs etc? 

It is very much case-by-case and requires understanding of the current tax regime for personal itemized deductions, as well as gambling on the proposed changes to this regime by the next administration.

Understand your costs and the value of your tenants before negotiating lease increases. 

The local branch manager got involved, couldn't understand what I was explaining either, didn't want to admit it, and got defensive and shut down when I tried having my attorney explain it to her in a different way.

But I appreciate that those who have found their footing in real estate and are doing it successfully want us newbies to understand it takes work and at least some capital.

You’ll often see sales with 100-200% swings within the same area, which makes having deep local knowledge and understanding the nuances absolutely critical.I do this for a living, and even with experience, comping in Detroit can still be challenging.

That attorney should have creditor rights background in the state to understand what you can and cannot do. 

I'd like to understand which is the better option between these two and the reasoning behind it. 

Fully understand what they can do to you and what is required.