Do you have other collateral, such as another income property or your personal residence (last resort) your seller could record their lien against? 

For practitioners in the real estate industry, the biggest challenge is not just the difficult work, high risks, or immense pressure, but the necessity to learn to let go of complete control over outcomes. Certainty i...

However, the Cleveland area is a net population loss area.

And personally I put way more weight on buying the right location as a buy and hold investor than saving some dollars on the front end. 

Lastly, you won't be able to HELOC (or any cash-out equity) and 2-4 unit property in TX while it is still your primary residence.

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.

If the Ensuing damage is also not covered, the total loss could be vastly higher.  

The investors who succeed now will be the ones who adjust their strategies to current conditions rather than relying on what worked during the last bull market.

Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

Lastly, network with local investors and continue learning to refine your strategies.Good luck!