Also, explain how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.

They're homeowners not investors.

He dives into how his company helps real estate investors and homeowners with renovation ideas that really make a space stand out - whether it's through wall accents, cabinetry, or unique material suggestions.

My wife are in escrow on our first rental property purchase (in the Columbus, Ohio market) and are underway with inspection, finalizing the loan, getting quotes on homeowners insurance, interviewing property managers, etc.

Yes, you'll have to live there a year, but then you can refinance (or not if you're just getting a homeowner loan at 95% LTV) and buy another and move out. 

What are the monthly taxes and insurance payments?

The homeowner/seller has “bad” credit, that’s way he’s stuck with high interest loans.  

The long-term impact won't be known for a while as investors, homeowners, insurance companies, and the like make changes in the coming months and years.I believe that the Tampa Bay Area will continue to be a good market overall as the foundations are solid. 

@Andrew CosmeYou should close just as if it was a normal sale and get a title company to create the loan docs, get title insurance and sell you the property.I strongly recommend you go through a title company and do not do a closing that was based on docs found online etc.

I would say try Facebook market local groups and other mid term rentals for people who are looking to stay for 3 to 6 months due to insurance claims.