Lakewood has a LOT of duplexes but what worries me is how old they are and it is sort of a party city with lots of younger tenants. 

However, for the most part, there are three players to this, namely you, the property owner, and the bank.The main thing is each one of the parties has to trust the other and perform their part of the deal.

Keep being involved in the forums, reading the BP material and guides, participate in the BP webinars, check on the videos on the formulas, and listen to the podcast.If you need help with a particular lesson feel free to message me!

Account ClosedWater lien has no legal right to the property, if you pay for it as a 3rd party.

If you bought a SFR or rented one then you would be paying 100% of the expenses involved.

Get involved in networking....virtually but in person also. 

Perhaps a nice 1950's built bungalow.Always hire a 3rd party property inspector to give you an unbiased feel for the home.

Are there books, Podcasts or ways that I can study about how it's done and the details involved.

You will NOT save any money by operating with an LLC, indeed there are startup & operating costs involved (not large), which means having an LLC will actually cost you more than not having one (outside of any liability related issues).

So that part is fine.