In regards to private financing a bunch of banks have caught onto this from decades of experience.They started adding power of sale clauses into all mortgage documents and putting in many reasons for being able to call the loan due.Right now owner financing with wraps etc. is working because the banks are working through crud unless they are a new bank or they were one of the very few who made mostly all good loans and were conservative.The VP's at some of the banks have told me on the phone as soon as rates start rising significantly and properties tart to recover and they have worked through most of the non-performing stuff then they will actively search for these owner finance arrangements and call all the notes due.They want to relend the money at higher rates and only do shorter term loans for many products in a rising interest market.

And what if you get the property under contract quickly w/o going to see the property and a big issue arises, is it easier to renegotiate?

I am more into buy and hold, and have an owner-occupied duplex under contract, but I would like to do a couple flips on the side if opportunities arise.

Putting the claim against the tenant's policy first makes their insurance pay the first loss.But then the problem arises where two companies have policies on the same matter; each will seek to mitigate their loss by having the other company pay first - this can lead to the claim going unpaid while they fight it out.Always some minus that you trade off in exchange for some plus.

The problem arises here when the property was severely underwater and the reserve price exceeds the market value - which an experienced lender should adjust if they actually want to sell the property at auction.

Here's the problem, later on anyone can come forward and claim granny was taken advantage of and granny will never be at fault, just a good idea to haed off future problems that could arise, IMO.

The bank cold call the DOS clause if they find out the seller wrapped and in addition since you have no reserves to handle the property if issues arise the property could go back worse to the seller than when they financed you.

Im sure your HVAC experience will help you with your rentals when issues arise.

I would strongly consider them if the need arises.  

Also, as a plus, you are building up your network and who knows, they might be able to help you out or point to in the right direction if something were to arise with your investment