Some will tell you to make the change anyway but that seems a large risk in this high interest rate environment.

It is to get you to reduce the amount of time you waste looking at deals and knowing what is good and what isn't good for a deal.You'll also need to know the area comps, are people putting in wood flooring or LVP etc.

The risk/reward here sounds pretty far skewed.

Risks with this:   1)  unless you do it for all housing applicants who reach a certain stage in your screening process,  you are discriminating.    2)   what if an applicant is from out of state?   

I would not buy on a land contract (maybe a piece of land but not a residence) but have owned them in the past (we bought them on secondary market).Way too much risk as the borrower - see the post I made yesterday in the note investing section where a homeowner gave someone a land contract and still sold the house to someone else.

Looks like you've gotten some good responses, unfortunately that's the risk of non investor friendly lenders. 

This allows you to benefit from appreciation, continue building equity, and still access capital for new deals without sacrificing an ultra-low fixed-rate loan.Would love to hear what direction you’re leaning—lots of ways to approach this depending on your risk tolerance and goals!

I've asked BiggerPockets users for examples of when their investments were protected by umbrella insurance, and I haven't found any examples so far.There are legal risks for landlords, but they are dramatically exaggerated.

I hope that ( In Time) they will put more money in my pocket than they took out, but it’s not a given. 100%.

I believed I was putting that hard-earned money into something secure.