They can collect from the insurance then go after the equity.  

The benefits to seller is that they can collect additional income via interest on the loan, potentially a higher purchase price for the use of seller financing, and they can spread out their capital gains tax exposure (if any) over two or more years rather than all in one year.Benefits to buyer using seller financing - ease of loan docs and no lender qualifications, no appraisal required, speed of financing, additional leverage avenue, potential to have lower interest costs than a hard or private money loan, no points or loan fees, etc.The key to seller financing is how you negotiate and how comfortable you can make the seller with the scenario.

I don't require the account numbers but if they provide them then it can be used for collections if needed.

They should be full service - rent collections, repairs, emergency calls etc.Any suggestions?

Are they collectable?

Do they collect the rent in person each month to see how things are going?

Then I do my contracts and payment collection online.

. - it means nothing if you don't have a deal to sell or a property to collect a birddog fee on.

Minimum I would collect your application fee.

The cool part is your seller can pocket the option fee and sell the house again whilst collecting above market rents and leaving operating expenses to the buyer.