I would get premium title insurance.

There is likely a buyer's premium (5% is pretty common) that is added onto your bid price.

The owner of the building parcel - sure it's inconvenient to not own the parcel you would buy, but why should they pay you any premium for the parcel? 

.@5DAYSAPPRAISAL (estimated)$650.00CREDIT REPORT$21.00ESTIMATED PER DIEM INTEREST:240.09ADMINISTRATION FEE$995.00Mortgage Insurance Premium$1,200.00PROCESSING FEEHazard Insurance PremiumDOCUMENT PREP FEE(First year, estimated.

Right the MMI on FHa is now for life if you put less than 10% down but realistically only maybe 2% of people using FHA put more than 3.5% down unless its for a strategic reason.If you have superb credit I would recommend you use 5% down payment and payoff the MI through whats called single premium lender paid mortgage insurance this is done by raising the rate high enough to absorb the mortgage insurance for instance instead of 4.75% you can opt for 5.125% and it will pay for the MI off for the rest of the life of the loan, or you can keep 4.75% but pay the SPMI in cash, or pay the stereotypical method of monthly mortgage insurance.If you're going from FHA to FHa refi thats a different story (streamline FHA refi).

The premium might go up a little because of the increase in sqft, but that's all.

I own property in Rochester and have worked with @Mark Updegraff and I highly recommend him.While duplex's are good for lowering risk (more streams of income to cover expenses) you will get a premium rent for a single-family home and a different type of renter, perhaps one that will stay long-term.Overall I think the duplex vs.

or should I save that premium on the side in case nothing like that happens.

Richard do you have premium membership on LoopNet or basic??

You do need to put down some money for the loan(3.5% down payment, mortgage insurance premium and closing costs) What we are talking about are any funds that I need to use directly for repairs.