@Nat Chan The problem with not registering an LLC in a state where it owns property is that you have no registered agent to receive service so most likely the secretary of state would be served and you would not know that you have been served and you could have a default judgement against you and not know it. 

On the final hour before the summary judgement hearing, one of the two occupants filed for BK causing another 45 day or so delay.

If there are multiples mortgages, and HOA, plus other judgements/liens the odds go way down.

It was a topic for discussion, not judgement.

You get to hire an attorney and most of the time your judgement is not worth the paper its printed on.

He never bothered to follow up with the court for the judgement amount so he'll never see any of that money. 

Above all, know the street by street (house by house) details of where you are buying as these can dramatically affect your success... unexpected longer vacancy with vandalism can severely dent COC returns.Many on Bigger Pockets are far more skilled than me, but the most frequent commonality I see is that they use their very, very detailed knowledge and judgement of their market and network to buy below market - make $ when they buy the deal regardless of any leverage . 

But since I didn’t and used my own judgement I have a deal that is killing it and will for another 8 years.12 unit 1994 property Solid condition not requiring lots of cap ex.

For instance, in NC, judgements are liens on property for 10 years.  

If the judgement exceeds your umbrella, they will start selling your assets until you get to a point where you can satisfy the entire judgement.