And, just like any normal homeowner's policy, the prepaid premiums are refundable when the policy is canceled.

Also, as others have mentioned, the only way for you to access those pre-paid funds is either by re-leveraging yourself via refinancing or selling of the asset, which then requires you to invest in a new asset to generate some form of return. 

.$10,059.86 for closing costs and prepaids ?!

Buyer’s closing costs shall be prepaid as a portion of the Option Fee; and closing costs will be paid as defined in Exhibit A.

If you do rent to them, I would require them to pay me 2-3 months of pre-paid rent.

I see them with prepaid phones that end up costing more because they're not responsible enough to have a normal phone plan like the rest of us.

Maybe BP should try a Pre-Paid legal RE attorney?

A 360 k house here would have about 4 k closing cost not including prepaid property tax.

If you do it would be so little as to not be worth the effort. lt is a terrible investment as a flip, there is negative profit margin.On your tax question...when you buy you will need to refund the sellers pre paid taxes as part of your closing costs..

Hey Austin I actually got the guests from airbnb it was the other property owner through vrbo who had a place they couldn't stay at because of the conditions - when they left after one night the owner said he would repay the other nights they had pre-paid but he never paid them - they are just asking me if there is a mechanism on vrbo for them to file a claim for their money back - I told them I would ask since I've never dealt with vrbo - so if anyone has any advice I can pass on it would be greatly appreciated.