There is no reason to for a bank to forgo all the due diligence they have done to get this loan done just to help you out.

How do I know the bank will not foreclose if I catch someone up on their payments.

There are enterprise-level tools but they are very expensive. 

The bank the is loaning most of the money also expects to be in 1st position.

Inspirational every time.If you haven't already, I would recommend that you start talking to lenders (banks, mortgage brokers, credit unions, etc.)

Banks will not typically lend for a home such as this for various reasons, and I do not mind as I do have the cash for it.On the negative side, I do not know what to expect in regards with initial repairs, and being a 100 year old home there are bound to be more problems down the road.

This is my first real estate property, but it's older and the loan amount is small (less than $200k), so the banks and credit unions I shopped around at are asking for higher interest rates.

Either way, I'll be good on the financing as I have already spoken to the bank.  

All of these properties are in the New Haven County area and are bank owned.

Also - this is assuming I have $1.25M of cash in the bank and have a net worth of $5M which I do not have.