-- Roommates could accelerate your savings and give you experience dealing with tenants.How are you going to handle two mortgage payments while your rental sits vacant for a few months - or do you naively think everything rents instantly?

I thought it was my entry too.

And create a team to handle the stuff you don’t have time for.  

Please answer any of these questions or suggest any advice on how I should handle this mess.

That's just one scenario.But again it depends on what you can handle and what makes sense financially, I couldn't give you a perfect answer on what to do. 

Do you have a handle on what your closing costs to purchase might be and also the closing costs to refinance the loan? 

I want any damages/fumigation related to termite to be handled by the seller.

Then, she asked, if she could pay the remaining $750 that is currently due for Oct. on Nov 1st. and pay the November rent in full Nov. 15th.My questions are:  What are the best ways to handle this situation.

Hire an accountant who specializes in real estate taxation to handle your taxes. 

I am wondering how I should handle the contracts/payments between SMLLC and ME (who own the lot) for the build.