Typically people think FHA because it's what's thought of as the least amount down which is commonly the goal when we all get started.

Now consider this: all the groups people are spending fortunes to target—foreclosures, absentee owners, probate leads, tax liens—what do they have in common?

Here's some online software options that you commonly see recommended on BiggerPockets.

This is a straightforward and common approach.However, make sure to document the change in the lease renewal or addendum, specifying the new security deposit amount.

I have heard that it is common practice that private money lenders collect a monthly fee thru various methods, I'm trying to determine what those methods are.   

There are a couple of others less commonly used. 

Another example is that with a tax auction it is common for all the interested parties to not be notified 100% correctly meaning they could in theory come back later and try to reverse the sale and take the property back!

On the other hand, you might find a common reason that a few of your potential investors are not investing that might change your own thoughts on the deal.

So I am posting hoping for any further advice or recommendations that could help me avoid pitfalls or avoid wasting time. 

Are there specific advantages or potential pitfalls I should consider when structuring these activities through my LLC?