I am certainly not opposed to this, but it does add some extra costs and challenges with the first mortgage holder. 

I know you said you have had this happen but to me, that would seem to be a rare occurrence.Of course, I am assuming that the current note holder has been diligent in collection efforts which might be an erroneous assumption.As I said, I don't deal in notes, preferring to acquire the property.

My goal in life is to put Wells Fargo out of business lol...Hancock Bank (Local-Regional) was very receptive and offered to refi at 5% on 15yr ammFirst Souther Bank (Local-Current loan holder) Agreed to just adjust the rate to 5% with a 20yr amm.

Still, getting that interest free for a year 20k credit limit Visa was nice.

No, as the current title holder is not available to sign over title to the wife.  

James Wacomb is doing it in Memphis currently... ( for investors I think).I myself bought new construction for rentals and they are a nice option vis a vi quality of tenant and low cost of ownership the first 10 years or so.There was a bigger investor / developer here in Portland when prices were much lower that was his model he would build 30 to 50 homes in a sub... all as cheap as he could do it.. you could always tell his product.. 

Airbnb has coverage some coverage but I don't feel it replaces having your own policy, which your mortgage holder will require as well. 

Once the lien is 2 years old the holder may force a sale and the only amounts due to the lienholder are their principal, interest, and costs.

I do however, go after the 2nd lien holder because those are pretty easy to get discounted down to $0.10 on the dollar.

I had a few ghetto properties that I tried that with and to my disgust these voucher holder would come in and question me as to why the carpet isn't plush or are there no accent walls or why the stove isn't a flat top.