Do they have the experience, team, and knowledge to steward your capital well.To a degree these are value judgements on your part, but there are a few things that can really help answer these questions:- Do they provide 3rd party audited financials?

All you had to do was ask if you didn't understand what I was saying rather than assume or pass judgements.

Supposed I only have a net worth of $250K, then I get a judgement against me for the remainder of $1,750,000, right and I have to either pay that off over the rest of my life or file bankruptcy?

Go ahead, be the "PM" - no judgement here.  

In my state the technically correct way to do it is to file an eviction...the court would send them a letter to the address of the apartment, and when the tenant didnt mail in a response to the eviction order, you would win a default judgement all within about 2 or 3 weeks...but do I know people, that know people that just go in, change the locks, clean, paint, make ready and rent again?

I would get a few local real estate agents to give you their value judgement and take 20-30% off that as a conservative estimate.  

House is deep into the foreclosure cycle with final judgement issued and auction date set.

We do have a judgement against the tenant over this.

Gives us default judgement so we can go in and start doing repairs, I really just wanted my money back.

That keeps anyone else from bidding and allows for a potential case for deficiency judgement against borrower.