Get management in place and sit back and collect your checks.

Turn over the judgment to a collection agency and let them collect for you.Joe Gore

You should have answered many of these questions you are asking before you start collecting leads.

You don't want the old owner collecting the rents.

But I just want to collect checks.

To name a few:Seller can get a higher price for their property.May not need the cash and can collect a higher return then if the cash sat in the bank. (6-8%)Faster closingTax benefits.

The seller won't provide bank statements or tax returns and I am unsure to whether rent was actually collected since it was an inherited property.My offer was accepted with no earnest money so should I cancel the contract before wasting money on an inspection?

I'm wondering what the collective wisdom on bigger pockets is regarding this idea?

(usually attend 2 per month)Every once in awhile - I can pick up a nugget of knowledge - but my intention - is to network / collect business cards - from most of the people in the room.I treat these seminars like watering holes - we're all thirsty for something!!  

Since banks aren't in the business of giving money away, and loaning money to someone you can't collect from is like giving money away, you are out of luck.As said before though, there is the possibility of getting a loan from a private lender (an individual or syndicate that has ties here and in Russia), but I'd expect the terms to be onerous... low LTV, high interest rate, etc.