I personally wouldn't do this with the current state of the market unless you are doing value-add.

@Mike Hern Hi Mike thank you for getting back to me. i did ask the person (a realtor who was at the auction who told me about that stuff after i had placed my bid) who ran the title search but they just wanted to make money it seemed cus when i went to ask them they said they dont know how to read it lol or tell me if i bid on a 1st loan or 2nd loan which was i even asked for it from her. how else can i know or should i run a title again thru a lawyer or title insurance company ?

They have to have a great personality and be willing to completely let go of any control of the project.

I do like to do it that way for a couple of reasons, your name appears as an Insured and the true owner is not the primary insured.As far as the cost difference, in our area I have found that, for the good properties, the personal policies (dwelling fire) can be cheaper. 

You can afford the personalized training AND still have money to buy a property with3.

I have purchased several properties in other states without seeing them in person.

I don’t personally invest in STR’s, but previously served as legal counsel for a company that owned a hotel portfolio valued over $1B, and understand the space and policy considerations that are creating barriers across the country.

I personally would stay away from an attorney because many of them do title on the side. 

The very aggravating part is that I never hear back from the person.

This is not a means for you to invest in real estate personally, and you cannot personally benefit such as by keeping the income yourself.