Originally posted by @Chris Baber:Hi Terry, I'm curious who you went with to manage your new property. 

They originally wanted to phase out STRs with deed transfer, but the complexity and lawsuit risk of that verbiage had them change to this. 

If you have a slow leak...coverage is less likely especially with aged plumbing.To the original poster, Salil.  

If was originated as owner occupied in the past and no longer is owner, if you have change of name on deed or insurance, if impound had a dispute, claims - are a couple reasons why the servicing changes.

The house had the utilities turned off for the 6 years, and was filled with the original 1 owner's furniture, clothes, appliances, car and ecn food in the frig (without elctric on for 6 years). 

Originally posted by @Tori Roy:How do you approach closing costs?

I purchased a FIRST LIEN Purchase Money Mortgage that foreclosed, originally from 2006.

Purchase price: $105,000 Cash invested: $23,000 Sale price: $180,000 Originally BRRRR’d, not great roi so sold.

So you might as well be a head of the game do the cash out refinance buy the next 1-2 properties and simply refinance the original mortgage as a "rate and term" which carries a lower rate.

they make money servicing not originating new loans.