Deciding when to hire them is very much an exercise in finding how risk averse you are.Maybe a football analogy with offense vs. defense works here?

I side with the prespective that a lot of others have already provided within this forum; however, I did not hear the obvious/ traditional beginners method/approach mentioned.That method/approach being: 1.) obtaining a good deal which equates to me at a minimum of 10-15% (the more the better) below market value based upon CMA (this approach protects you in the case of a slight market downturn)2.) utilizing the business line of credit of $50k to make the 25% down payment (this down payment helps enhance the profit spread you will be able to collect each month in rent from your tenants minus your mortgage and loan repayment)3.)

I think far worse than the right of redemption being exercised (cuz that would still mean you are making 9% on your money in Oregon), is finding additional liens and judgments that you are responsible for.  

Actually in my case the last thing I want to do is drive over and look at a house unless I know I'm going to buy it, but if you are new its a good exercise to talk to sellers and make some rough repair estimates. 

has exercised any bankruptcy rights?

As an exercise, do some research into similar properties in the area and confirm whether you think his estimation of value is accurate or not.

I know that this is their best option, and I try to encourage them to exercise that option if it's possible.

This Execute, Rinse, Repeat exercise adds you 1 solid property a year.If you have additional savings based on having your house partially rented and cash flow off the properties you're accumulating, you can look to use that money for down payments on other more turn key properties to more quickly grow your portfolio.

Again, love the site, hope you take this as a friendly enhancement request.

I'm not so sure that the fact the lender is waiving its right to exercise its option to call the note immediately would prevent it from exercising that right at a later date.