If it's just a single family home you could look at getting a million dollar umbrella policy to cover any issues. 

Question: how did you structure these deals as to cover your investment in case a seller changed their mind?

@Mike Vann it covers the basics, but his next book "The advanced guide to real estate" goes even deeper and is probably what you'll want to get next. 

Seems like I'd have to get the property at a low enough price so that god forbid the seller has to foreclose there would be room for the fc proceeds would cover the seller and then my partner right?

Less labor for the deleader ( = less cost to you) and if it's occupied, you need to cover the cost of housing your tenants while the work goes on.There are tax credits for deleading and loan programs in MA that you can use that don't have to be paid back until you sell the unit.

If someone has a solid lease agreement to cover all the caveats that they're willing to share, I'd love to see what sort of things people call out in their lease to avoid headaches such as this.

I wouldn't tell the listing agent this if she/he called me as the lender when vetting offers, but it'll come down to a human judgement call on the part of the underwriter, how well I package it and write a good cover letter, etc, and not be one of those "oh slam dunk no brainer of course it will be 100% fine" type things.

I can't get that return anywhere for a 6-9 month timeframe, and would more than cover any fees or tax concerns.The biggest risk I see is that if there is a job loss, the loan is considered a distribution and you need to pay tax and a penalty on the money.

Hello BP,I have used the same screening service for my last two tenants and although the credit checks are  completed and returned promptly, the background check usually takes 5-7 business days.  

If you are looking at SF properties, treating your tenants well, good screening, and a liability policy will provide you the best protection.