You just can't beat the loans you can get as a homeowner and with FHA (and some local banks) you can get owner occupied loans on property's up to a fourplex. 

I tried to get an umbrella policy added to my home owners insurance and was denied due to a recent claim.

Distressed homeowners are typically pretty down and depressed already given their situation. 

From my research, I understand that as a homeowner one is not required to issue a 1099 for the $ paid for the remodel.

I live in Virginia where I reached out to a home owner who lives in another state who has a house that has been unoccupied for over a year.

However, there are so many nuances such as where does the home owners stay?

My questions span broad areas and as I continue to do my own research, I'd really appreciate any experienced investors and residents who can chime in:1) For those who have invested in Chicago and DFW, or moved from one to the other, are there any qualitative differences in the way homeowners approach rehabs, structural issues, expenses requiring insurance claims, or any other major overhauls that a newbie must account and budget for?

I have a home owner requesting $94-139k HEI loan, structured to pay the loan when the house is sold, in 10 yrs. 

What I took away from the brief conversation, however, was that it's not the silver bullet it was thought to be to reduce overall homeowner cost during turnover.

One is for homeowners who are in default and upside down; one is for homeowners who are in default but still have equity in their home; and one is for homeowners who have received Notice of Trustee Sale and their house is about to be foreclosed.