I have done over 30k reservations and only had 1 instance of a guest causing above $10k in damage, so not sure how worth it is to pay for additional coverages. 

The tenant had until 1/6/25 to pay the back rent or move out and did neither.

Quote from @Jaycee Greene: Assuming you pay asking price, I'd estimate the down payment for something like that using a hard money loan (HML) would be around 40% of the purchase price and your monthly payment would be $2,600 with an interest rate in the low 7% range (probably need a 700+ credit score to get that).

I just had tenants move out of my investment property (duplex) without paying for the last month's rent, and the damage they inflicted onto the property exceeds their security deposit amount.

I'll subto his existing mortgage and pay off the 120k.

yes create the addendum but realize the tenant who has been paying could ask to be reimbursed for these costs as well as not accept the addendum.

Additonally house tenants take care of lawn maintenance and snow removal, and pay all utilitites. 

Dude, you're paying rent to someone.

After communicating with a prospective resident (Google Voice #, usually by text), with just a name, telephone number and email, the applicant can pay $55 to provide us with a background, eviction and credit check.

Now a-lot of times you buy a home from someone with seller financing and they hold the note for 6 months to season it and then sell the note to another investor or a firm and then it will most likely show up on your credit because these are more sophisticated investors.In regards to the benefits of owner financing you won't have to pay closing costs to a bank.