So, a line of credit or bridge/rehab loan will best serve your BRRRR goals, as those do not carry prepayment penalties or minimum hold times.

I have helped my oldest 4 kids each buy houses in LLCs as my partners all being under the age of 18 with no credit or experience.

At best the optionee's payment for the option might make him/her an unsecured creditor in the estate.

RocketLawyer, if necessary, has some good templates for a simple Operating Agreement... which will never see the light of day unless a creditor (bank, landlord) wants it.

For students, I typically see either excellent credit, horrible credit, or no credit at all. 

@Evelyn CastilloWith no credit or experience with little money in the bank you will have a hard time getting hard money.

It's a bad thing for banks and whoever is holding the loans (i.e. the creditor) but anyone who is a debtor will come out ahead - that $100k mortgage?  

Or set up automatic payments with your creditors.3.

I have no credit .... or I have a low score because I got rid of all my credit cards...." and finished with "Thank you for the time" or "Please consider".

A judgment creditor for one property cannot reach the others.However, as to whether or not you should make a new LLC in AL, you need to talk to an AL attorney to determine what the rules are for operating and doing business in the state, and if you get any tax incentives.