They must be very low odds because insurance companies are in the business of making money, not paying out maximums.

Section 8 refers to a voucher that some people use to pay for their housing.

My humble advice to anyone attempting to do creative finance is:Creative finance is for experienced investors who have access to capital if anything goes wrong.Learn the lawsDon't use a contract "off the internet", laws vary by state and are also regulated on a federal levelLearn the financing techniques correctlyDon’t skip parts of the processDon’t ever do a “kitchen table” closingUse the proper deedAn attorney can help you with the legal work, but the rest you are on your ownYour guru will not bail you out“Investing” in someone else’s deal by providing a small 2nd loan so the “investor” can pay for “cash to the seller” and for “closing costs” so he can do the deal is a very bad planKnow what problems can ariseLearn the responses and solutions to problems before they are neededKnow everything there is to know about Title and what that meansKnow who a "protected class" individual isLearn the "back doors"Learn human natureUnderstand timelinesUnderstand regulation enforcement (some of these "mistakes" have a 10 year statue of limitations ( they can charge you 10 years AFTER you do the transaction) and carry hefty fines and possible imprisonmentThe court doesn't accept "I didn't know" for an answer"Know that the source of the lead plays a serious role in some states and federallyKnow how much of a "profit" pushes the boundaries to invite an investigationYou can be sued by the seller if you don’t do things correctlyYou are automatically at fault if an investigator or attorney or regulator gets involved.

Quote from @Milena Garcia: this sale I hope is all done after 2 months..

And I would love some passive income or at least someone to pay my mortgage until we can pay it off maybe.

If you have large debt with a high interest rate, I would consider paying that off before getting started investing in real estate. 

Instead of paying into someone else’s property, you could be using that allowance to finance your own real estate investment.In Germany, you have access to a stable market with long-term growth potential, and U.S. service members and government civilians have unique advantages here.

I'm not a fan of flipping simply because I hate paying taxes when I don't have to.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.

Getting a bit overwhelmed with all the required County Level and City Level business licenses, STR permits and Tax accounts (Business Tax, Franchise & Excise Tax, Sales & Use Tax) to register with the state.