This strategy is not perfect for every acquisition - since purchasers of LLC membership interests are purchasing both the assets and the liabilities of the acquired LLC, it is important for the purchaser to conduct adequate due diligence to minimize the risk of any undisclosed liabilities.

Im checking a list in a county where I live and im already up to 3k how good are these lists, do the trees bear fruit or am a wasting Fiji water to see them grow?

Don’t waste your time trying to read someone’s mind.....just make your offer.....then in a month make the same or lower offer. 

I had it in writing at 60k so it was frustrating to see especially after paying my lawyer for the initial contract which was simply a waste of money if he had no intention of selling it on contract in the first place. 

If you are prepared don't waste your effort worrying.  

When I find records like this, how would I know if they still owe without wasting my money and time skip tracing them and bothering the owner over an issue that may be resolved already?  

Instead of lying to realtors, using bogus weasel clauses, and wasting time and money on asset protection, find a mentor that can show you how to source deals.

Another downside is we could waste time (months) without a tenant if this company is unable to find someone who is interested or if we can't agree on a price. 

I don’t want to waste time with ”renters only” so the deposit requirement naturally sifts the “renters only” out.

Even though your payment will be higher you can do this for a shorter period of time than the 400$ payments but of coarse you may not cash flow any at that point which really sucks .personally  I don’t think this is even a good deal to be wasting time and money on given the risk involved .