I checked the forums, but couldn't find an exhaustive resource for legal requirements.

After you have exhausted conventional mortgages ( or in between loan availability) you start looking for PML and owner financing for long term loans.  

That type of policy provides an additional layer of Liability coverage (usually in $1,000,000 increments) that start if the primary policy's Liability limit for the location gets exhausted by a claim. 

I would pretty much exhaust all my cash with a cash purchase but would have a house worth at least 55-65k.Or, do I use less of my cash to buy a 70k rental that needs less work?

It is exciting, risky, and exhausting but the rewards can be limitless.   

He would show up for a couple hours, do a couple things and leave exhausted.

I chose not to go forward as it would have exhausted all my cash but other than that, everything seemed there in terms of property, management, etc.  

Also, the servicer cannot start the foreclosure process if a loss mitigation application is pending.If you submit a complete loss mitigation application to your mortgage servicer after the foreclosure has started, but more than 37 days before a foreclosure sale, the servicer must stop the foreclosure process until: the servicer informs you that you are not eligible for any loss mitigation option (and any appeal you make has been exhausted)you reject the workout option that the servicer offers to you, oryou accept a workout, but fail to comply with the terms of the deal (such as not making payments during a trial modification).Now...that's the law, but let's talk about reality.  

Love your plan, and I'm exhausted!  

Cleanings of walls, ceilings, windows, window frames, registers/vents, installed microwave with exhaust fan and light fixtures.  2.