You may be pleasantly surprised to simply find an owner who is burned out, but willing to cooperate and let you help screen future tenants.   

They're nicer, you get to screen more tenants, etc.  

I'm a little shy so my spouse does most of the talking and screening.

If you are worried about not having them pay for their fair share I suggest 1) you screen them carefully, 2) you setup automatic online bill pay using tenantcloud.

I am no expert but my thinking is that the title company may be responsible to cover any/all cost related to their negligence, but I would strongly consider talking to an attorney and some friends and/or some other noteholders to see their take on your situation... the last thing you want to do is say something wrong and/or do things that are unnecessary/ not your responsibility 

Red flags galore.Highly likely they will be unreliable regarding rent payment and not worth the risk under my screening practices.

of whom you won't screen. 

Combining two applicants into one to pass screening is a major mistake especially when they are not married. 

We just do proper screening and most of the time dont have any issues. 

Or I should say, "Why I've learned to screen better and not rely on luck, lol."