We normally do not seek judgement due to the expense that is involved, even after you win you have to continue to renew the judgement every year.We put them in collections and have it hit all three credit bureaus.

BAM is a conservative operator and understanding of our current economic environment. 

Some wholesalers over charge and don't understand the market and arv or BRRR.

@John Cooper I can understand your frustration.

From what I read and understand, this means I'm likely going to struggle with getting a loan, not even considering the inability to pay any down payment.On the other hand, my parents have significant liquid assets, (think on the order of > 500k), that they are potentially looking to diversify into real estate.

You really want someone that invests in their market themselves and understands the numbers.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

I understand that I need to account for taxes, insurance, and other costs—Should I go with a LML and then do a refi later on?  

Unfortunately, this problem waste a lot of my time that could be spent on other investments.I have used the same tax professional for many years and he is very educated, but also much older than me and it's hard for me to understand all the reasons he has expressed why is better to put the rental on my personal tax returns.

- In our opinion/experience, it's important for an OOS investor to understand the "lay of the land".