@Joel Oh- if you are using a loan to acquire the property - the lender  requires  insurance ....if you own the property  free and  clear - your  choice  but I would still  recommend  insurance 

just staying totally away from politics, state laws, etc. for a second - just forget that, as that is not my point and that is not why i'm bringing it up - BLUF: Texas is building houses for people to live in, and CT isn't.

The only time I stayed awhile in Amarillo was for a wedding at First Baptist Amarillo which is within a mile of this place. 

I am definitely open to out of state investing though if that helps me reach my goal more efficiently, but would love to stay on the west coast.

Start with BiggerPockets Ultimate Beginners Guide (free).

You are free to build whatever you want, sell the house once is finished, and the lien-holder (original seller) is paid off through title when the new house sells.

Not necessarily insurance company stays but simply people looking to relocate for a few months and try it out.

Looking for references for property manager who has experience managing furnished midterm property (30 days minimum stay).Respectfully,Oleksandr

Your name and credit would stay with the existing note, which you would keep paying on - ideally yourself with money you receive from the "buyer", because if they don't pay your credit is wrecked and your house is in foreclosure.If you search on here you'll see everyone and their brother looking to do Subto and it's a nightmare unless the buyer has the funds to pay the note off if/when the original lender figures out you don't occupy the property any more and are attempting to do what you want to do, since most loans are going to specify that performance.  

I know that I should try to stay at 60% - 70% LTV.