To expand on this, and to peg when a person can just be "The Owner" and wash hands of being IN the day-2-day.... 

Be sure you to have offer for potential homesellers to raise their hand... like a Home Seller's Guide.Call expired and ask them how come they think their house didn't sell and listen to what they say. 

She walked away with $1,500 in hand, and we salvaged the deal, netting $8,500 in the process.That deal reinforced two crucial lessons: first, title issues can create unexpected hurdles, even in straightforward transactions.

On the other hand, if you bought the property initially with a warranty deed, you can probably use it a as a template.

There is a very big difference in my point of view hearing from someone who knows someone first hand vs. someone who just goes and does some internet research. 

for me  a handful since early 80s  now in those days I was ONLY buying land that had owner contracts on them. 

Still can be very beneficial for a new investor but personally I think not as good as a service as they had with their exclusive listings where they had inspections already done, rent rolls available, and you can complete the entire offer/acceptance via their platform rather than being handed off to an agent. 

If they don't pay within the required timeframe, then I auction off the storage unit and wash my hands of it.

If it weren’t for some contractor issues, we would have netted around $60K, but it ended up closer to $45-50K (I don’t have the exact numbers on hand).

I wanted someone to hold my hand because I was scared of what I didn't know.