The only payment that gets delayed if the property isn't delivered on time is the last payment due on delivery, unless stated otherwise in your contract.

You may want to look at concessions to help cover costs or buy down your rate to a comfortable payment. 

Research sold properties to see if the #s would make sense given your projected down payment amount.

I just look at it like a 12-15% down payment, which I can stomach.

Then Joe sends a letter to Bob and says I bought your mortgage make payments to me.

If you can not find coverage with the agencies you have contacted, PM me and I will let you know the companies that we use that might do it.Because of your making payments to the owners potentially, I would look into commercial crime coverage and cyber liability. 

Slightly larger rent payment? 

If she doesn't pay the rent in Jan, start by following your local rules for non-payment of rent (normally a 10 day notice). 

Typically, you'll have something like a 10 year draw period with interest-only payments, and then the balance is amortized over 20 years.

My monthly mortgage payment will be approximately $2,100.Comps in the neighborhood are currently renting for around $2,600/month, so my plan is to live in the property for 1–2 years before renting it out.