I have three questions:1)  If the latter scenario is required, and the mortgage is originated in their name and put into an LLC, how would I gain the "credit" or experience that is required for obtaining hard money loans down the road?  

I obtained most of the Bigger Pockets books and am working my way through them.

My goal in becoming an investor is to FINALLY obtain some financial freedom in my life and to help those who are not as fortunate as myself.

If you made to court and obtain a judgment,  you have very little chance of collecting.  

In order to pull credit you have be the borrower or go through certification process that involves having an office, a locked cabinet etc etc...

Greater to understand about their rent placing and series method how they will obtain from the tenant and handover for your requirements the rent amount.

Obtain copy of will, should be listed with probate court and get on the ball with this. 

Secondly, I am looking for some guidance in obtaining properties for rent. 

Dear all,I would appreciate if you could share your experience on how to start, and if possible automate, lead generation for motivated sellers, as well as property buyers.Thank you.

Lucas, the loan can be obtained for any purpose and must be paid back using amortized payments over a period of 5 years.