I guess a flat seasonal fee like any insurance policy, sometimes you win, sometimes you lose.

Do you know what investment strategy you plan to use in the future?

I calculated her monthly payment is 1300.Since it is a vacant investment property where she will be taking a loss at sale and has been on market for 60 days, I am thinking seller financing may be mutually beneficial.I am planning to make 2 offers:300k with conventional mortgage.

Hey Nithin, one of my client's closes today on a next gen home that they plan on renting out the separate unit.

If the plan is to use this as an investment property, your client may want to check out a DSCR loan.

I have also filed a claim against his insurance company with hope of getting at least our monies from the contract back.    

You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

I have always had an interest in flipping houses because I get really excited to see run-down houses, walk through them, and come up with a design plan.

I was planning on searching here today to see if I can find any meetups in our area.

I currently have my investment portfolio all in North Jersey and planning on purchasing a number of units in Syracuse.