You will be obligated to modify your home insurance once you leave, regardless of whether you self-manage or not and this would apply to Scenario 2 as well - for any property you don't occupy yourself.3. 

The auction price seems to assume that the proceeds will be applied to repay the first mortgage and the second mortgage.

If he meant it the way you interpreted it, he could be applying the rules in his jurisdiction, possibly erroneously, to your jurisdiction.  

They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

This deal was sourced through our network and direct-to-seller outreach.

I saw the building has tenant and even upstairs which is direct to roof this one I got in first floor.

I am not an expert on your market but I will give you some advice that should apply well tov most any market:1.

One thing my teens have taught me is not everyone wants to be contacted directly on the phone.

Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.

If anyone can point me in the right direction for this math, I will see if I can get it built into this dashboard.Thank you to any who can provide guidance, insight or want to collaborate.