I live in a cheaper market with a lot of sub-75k properties.

Has anyone come across any issues with insurance being enforceable if they transfer over a property from a personal name to LLC with a loan on it?

Definitely market specific, I have a few properties around the country and work with a lot of investors in almost every market. 

2. how sensitive the short term rental business is to these risks in these locations, i.e. there are not many properties for short term rental in certain locations for example?

For example, if a partner and I split the acquisition/rehab costs, do we each get a 50% stake in the equity of the property? 

Reasons to sell the seller on the Owner financing might be, because you are going to do a substantial rehab to the property, or that the property doesn't have any buyers, and this is a way to sell the property.Seller Financing works a lot better when there is not a realtor to pay, where a realtor's commission could be 6%, which on a $300,000 Purchase would be $18,000.An additional option you might consider if you are looking at purchasing this property to do a flip, or fix and rent, is you could propose seeing if the seller would partner with you, and you would secure a Private Loan for 50% of the sales price, plus the rehab, and if there is enough upside equity, you would probably be able to do a cash out refinance and pay off the seller that way.

One property is the residence of the owner. 

I am a new landlord and need to replace the only shower in our rental property, which will take 3 days to complete.

P.s there are also properties on the land generating some rental income.

I said no and asked them how long they would need and they said six months to figure things out and then move.At this point, they are planning to move in March 2025.I want to fix/rehab this property and sell it ASAP.