IF that is the case full stop - yes you are paying for something called insurance but if you have a claim the company has the right to pretty much deny coverage for having the wrong type of policy.Landlord policies are higher cost but for a reason - there is a different and increased level of risk when the house is not owner occupied.Talk with your agent and get all the details sorted out. 

@Jay Hinrichs @Jonathan Greene @Nicholas L.you have all helped me to really consider what type of challenge / path I want to get into, and all this information is excellent.

Hey guys im looking at real estate in South America ,for the price of a studio here in the U.S there you can get a 3br +1000sqf house in nice area of town ready to move in, been pondering on getting a personal loan here in the U.S to invest in a house in SA, what banks are best for this type of loan, i would like a low interest and monthly payments.

This is the type of deal where doing your homework upfront pays off big time later.

Your best bet is to get on the phone, get multiple opinions, multiple quotes, and make decisions on the type of build before pulling the trigger.

From google: “The Fair Housing Act (FHA) does not apply to certain types of rentals, including: Owner-occupied buildings: If the building has four or fewer units and is owned by the person who lives there Single-family homes: If the owner rents or sells the home without using a real estate agent, and they own no more than three homes Religious organizations: If the property is only available to members of the organization's religion Private clubs: If the property is only available to members of the club Senior housing: If the property is designated for people who are at least 55 years old Even if a property is exempt from the FHA, it must still comply with the law's ban on discriminatory statements, notices, or advertising.

I agree that DealCheck (or the BP calculator) does not provide enough tools or functionality to analyze those types of transactions (yet).But I would argue that it does a great job at analyzing more traditional buy & hold SFRs and multi-families, as well as flips and rehab projects. 

Right now, land (unless in a hot market) takes a special type of buyer/developer to turn it into money, so you're better off finding the thing the people with the money want. land tends to sit a long time...

To be clear I’ve never done this so I don’t know if you would need a $10,000 or $25,000 or what type of payment.

Confirm that the warranty applies to the type of property you own and consider whether the annual cost and service call fees make sense compared to just handling repairs yourself or using your own trusted contractors.