But might help others avoid this pitfall…when a mortgage is transferred between banks, I’m learning they don’t record a lien release with the county. 

But you have to understand the seller is taking on a significant risk of having someone else run the property and not knowing if they will get the final payout.If you are getting typical rates, why would you not just buy the property outright with 20% down and obtain mortgage financing from a lender?

I think your best approach is to pretend you are the investor yourself, calculate build cost (mortgage with interest) + Maint / cap expenses/ management fees according to your zoning and then compare that to the average rent in that neighborhood.

They will do a Good title search that no liens or mortgage issues with the firemineral rights transfer, easements, a survey, type things need to be clear.glad you escaped the fire with your health is main thing

Only mortgages as debts which are covered by rents.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I have about 150k equity in my home and have $215k balance on my mortgage.

But then i ran numbers and realized that at current rates i have to pay 4300 (3300 Mortgage, 1000 Prop taxes ,900 HOA) . 

She rented out the second bedroom to a traveling nurse and found that the rental income not only covered half her mortgage but also let her save for her next property.

If you're worried about cash flow, put enough money down so that a current estimated rental price after the home is renovated will cover the mortgage and property manager costs.