Every lawyer i spoke to said the same thing, they don't have to give warnings and lately the county seems to be targeting LLC's holding property. 

Sometimes this approach can gain the respect from others with how you addressed the situation because they know you could have just filed the complaint with no warning. 

I have a property in California and my PM said they file eviction notices within days Of missed rent or some other kind of warning.

I warned early on I am really green on this stuff :) . 

Then I go outside and see who has their windows open and give them a warning. 

I have to warn you that I am a realist.

Some say all contracts are assignable, others the NJ RE contract is; but in the same space I am being warned that one needs to be careful.

Just a warning. 

If that is the case @Rob Drum is your man, he is skilled in setting up owner financing deals and finding some amazing dealsI have done several myself and can share the forms if you like, I will warn you can only do 3 a year and not have to conform to Dodd-Frank guidelines.   

I'm thinking of using combination of LOCs and HELOCs to serve as my reserve funds, but I've been warned several times that this can be risky.