I guess that was my main concern in this whole deal.

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My main concern is when title transfers there is a chance the bank will call the old loan due.

My concern would be that the tenant initiates payment on the first then I find out 5 days later they had insufficient funds. 

Part time and beginner investors don't have the knowledge, time, or resources to door knock, start direct mail campaigns, look up absentee owners, etc.

Any insurance concerns?

Uptown is looking really promising...but it might be a few years before it gets to where it should be.The turnover would be a larger concern for me.

I know I could probably go hard money but my concern is being able to refi into a normal bank loan within 6-12 months because I'm certain my equity won't be sufficient by then, even if I'm reinvesting all profits, and especially since the payments will be interest only. 

As always, I appreciate any responses to my beginner questions! 

The good news is that the criminals you are concerned about usually have other indicators they won't be a good tenant, and you can review those without discriminating.Criminal background checks aren't just disappearing in Portland and Seattle- expect it to be a national trend.