Wise lenders have borrowers sign legal agreements and have them provide collateral that is worth more than the amount of the loan in case the borrower doesn't make the promised payments on the loan.

Depending on the scope of the conversion it could get quite expensive as well.

This really all depends on the property type.

As far as timeframe, anywhere from 21-45 days depending on how quick a borrower gets their docs to underwriting, how long the appraisal takes, etc.

File an eviction with the court and provide the proper notices (e.g., 10-day notice to pay or vacate for nonpayment of rent).

Implying bait and switch is pretty bold, please provide specific examples OR possibly consider not implying this about a loan shop that you clearly don't know much about. 

Which insurance providers or claims adjusters typically handle displacement housing arrangements?

There sure are fast track approaches to this but really depends on strategy. 

if i were to acquire these and have them be owner financed, I would want clear title and the other mortgage on this lot removed - especially if my loan has a balloon on it that matures prior to the existing loan, as how would to provide clear title?

Depends on the city & airport.