I'm covering the leverage and have reserves in place for any capex expenses.

So the question is - why would someone entering a deal/assignment need a gator to cover EMD?

It didn't occur to me when I shopped for this policy, but will our rentals even be covered due to different ownership?   

I would then probably consider putting down the min. downpayment on a duplex up to a fourplex, for a place to live and rent out the remainder to  cover the mortgage and expenses.  

This is what I think I know:- The borrower can choose to pay off the note at any time (by selling the property or just paying off the loan with other funds), so it is important that the legal balance covers my investment and some profit- The borrower could file bankruptcy (can someone confirm that this will only cause delay, but not jeopardize ultimately collecting the legal balance of the note)- Most of these DOTs will have a rent assignment clause, so I could try to enforce that and collect rents from tenants (essentially manage the property) while I am holding the note and trying to foreclose.

It was next door to my moms bed and breakfast so we could manage it easily.

Hey Dave, since I have mortgages on these properties, would it make sense to bring cash to the exchange to cover the mortgage amount (or pay off the mortgage before doing the 1031) and improve the cash flow for the newly acquired property?

For a flip, you'll want to get a builder's risk policy, which covers the property during renovations, including any damage from fire, vandalism, or weather while it's vacant.

The idea of house hacking a multi-family property is a great way to cover living expenses while building equity.

They have stepped in to cover repairs for me, pressured mngt to do the same, introduced me to other PM teams that would perform better, shared multiple resources with me to assist with the sale of the properties and have spent ample time helping me strategize overall about what to do with these properties.