The 290k estimate of value of the property is also unreasonably high given recent comps in the area.

It is not unreasonable at all that the first may have interest and advances exceeding any available equity.  

It is complete BS and in my opinion a clear violation of a person's 4th amendment rights of unreasonable search and seizure, but I'm not the person who is going to fight that fight in the courts. 

Be the best landlord you know how to be and it'll improve your tenant relations over the long run (but of course, there are always exceptions and some tenants are just unreasonable).As for the desperation bit, the best plan to address that is to include a higher % of vacancy in your numbers.

5% is Not unreasonable. 

Again, my opinion, but it seems unreasonable to select a bank that doesn't allow deposits into accounts by non-members.

Is it unreasonable to expect the PM to visit each property at least a couple times a year?

Either the 'proven' crew are super expensive, or the 'unproven' crew are unreasonably cheap.Personally, I'd get a third and fourth bid.

I have found that nice houses are really easy to sell with owner financing, unless they are way overpriced or the terms are unreasonable. 

Definitely a good point to not rely on the low rates to calculate cash flow...personally I don't think the 80's double digits rates will come back but even 5 or 6% (which is not unreasonable) can make a big change in the numbers - totally valid!