Quote from @Adam York: Contact your insurance provider and let them know you intend to rent out the home.

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

Dude, you're paying rent to someone.

Hard to give up such a low mortgage rate, but in the end that's small potatoes compared to potential OOS problems.  

Maybe you can call your insurance agent and they could possibly whip up a letter or something.

We are very excited to share your investing journey with you and here to help you reach your goals however we can. 

Hi Steve, welcome to BP!

Buy properties with more and more units.- Can also try to do seller financing, but much harder to find.

So, you say will I want to take some cash out using the 200k value but most programs will require you to wait some period of time from 3 months up to 12 months for conventional before you can use that 200k value to pull cash out.This seasoning does NOT apply to delayed financing as I mentioned in my post above.  

It's free to sign up for an account and the savings account has a very competitive interest rate.