After diagnosing the issue, noting that replacement parts weren’t available, and ordering a new microwave, we received a bill for about $660.

As was noted, you don’t have enough equity in #3 to tap, so it’s just a financial self-supporting carry.

The seller remains personally liable on the note while no longer owning the property securing the note.2.

@Nevin Wilkie, as noted, if you already closed on a conventional loan, your lender is correct that any change in ownership can cause the loan to become due immediately.There are a few options:First, most risk of being sued comes from you being a bad person.  

Note that I mostly rent B2B (directly to insurance relocation companies and other corporations) but I include the cost of the waiver each month in the rent that I charge.

Here are some things to look out for to help you know who to take advice from when you are just starting out:(Note: There are exceptions to every rule.

Seller financing via a note company.

I’d prefer to avoid double-paying for insurance if possible.Additional Note: This property will be used as a short-term rental, which adds to the complexity.Any advice on how to structure the insurance to cover all bases without redundant costs would be greatly appreciated!

Note this election MUST be made in the year of the dispositions.2) 1031 - There's usually no tax on gains or losses when swapping property for similar property.

I'll send a note to say hi and connect.