Buying Subject To, Selling Owner Finance. Anything Suggestions?

[Marvin McTaw]

I am purchasing a property Subject To and selling it via Owner Finance. We are collecting a down payment upfront and will also have a monthly spread between the Subject To payments and what we collect in principal and interest. Does anyone have any suggestions on things I should be on the lookout for from a risk standpoint before we move forward and close?

Part of the reason I am selling this property via Owner Financing is because the existing financing has a balloon payment due in a few years. With owner financing, I hope to eliminate the refinancing risk by having the option to sell the note to pay off the original note. 

There are a lot of moving parts here and I'm hoping to draw on the wisdom of the community to make sure I don't miss out on anything critical. A couple issues I need help with, haven't resolved yet with my attorney: 

• Property Insurance: the existing debt requires insurance. Insurance is not escrowed. Should the current owner keep that in his name? Should the new owners (i.e. B to C) take it out in their name and add the current owner as a beneficiary too?
• Property Taxes: taxes are not escrowed. Should I escrow for taxes to make sure they are paid?
• Credit Reports, Bank Statements, Employment Verification, Background Checks, Child Molester: I've been treating the buyer in the same way I treat lease option tenants and doing the normal checks on that front. I typically review this for problem issues but would prefer them to be reviewed by someone professionally, primarily because I've been super busy. Any recommendations on companies to run these reports for me?
• Any Other Issues I Need To Think About or Consider?