Turns out, the previous owner did take many steps to mitigate the moisture damage and the home was very dry and mold free when we acquired it.

We purchased this as a BRRRR on a Line of Credit, went to do a few fixes then refinance.

----------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

2 years you guys have done a lot of damage.

Some will be ok in 2nd position and some will not and force you to refinance out the first - but those are options that are probably cheaper than credit cards 

@Helena Goyvaerts rate for a 30-year fix would be at least 8.5% with some points (1% of loan amount).Most DSR lenders have a minimum credit score requirement from the applicant.

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

I was working with a local credit union who pulled out at the last minute.

What minimum credit score?

Selfishly, being able to respond fast, mitigates damage to the property (frozen pipes, mold!)