Some lenders may also want to see law and ordinance coverage in your insurance and perhaps a rebuild letter from the city stating that the property could be rebuilt as a residential 4plex if destroyed. 

no rent coming in but expenses were low - just utilities and insurance. 

There best move would be to put the property in a trust and not sell it until after the current homeowner passes away as that may allow the daughter to get a step up and then sell.Also, seller financing does not always net the highest price - and there is the issue of the seller having now to hope a loan does not go into default. 

The double close or back to back closing is NOT illegal; it’s just darn hard to find a title insurer willing to do it.  

I understand this is my responsibility and I filed an insurance claim and the garage is currently being rebuilt as the entire thing was destroyed.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

And STRs really help because you don't have the large dings that long term rentals have - i.e tenants damaging the property to where you have huge make ready costs (the str insurance covers that), no collections or evictions issues. 

Zillow Offers (home owners, buyers and investors to estimate property values quickly) 3.

Again PMI offers the lower rate because its less risky and offers insurance to the bank.So when you sell your current home try and keep as much as possible and avoid an "All Cash" offer.

Pros: Diverse job market, low unemployment, great resilience during recessions, nice appreciation, 1% rule can be hit if you look hard enough, great economy, good schools, Midwest nice.Cons: Extreme weather at times (hot/humid summers, tornadoes/hail, brutal cold in Jan/Feb), high insurance premiums, property taxes also really high.