The vast majority of lawsuits against Landlords are for wrongful eviction, security deposit disputes, and Fair Housing Violations.

If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

Do you have any suggestions on how we can secure long-term financing under these circumstances?

I completely agree with @Ashish Acharya's points about the cost-effectiveness of a HELOC and the potential credit implications if it’s secured by your primary residence.

About Westchester, NY:- One of the most expensive places in the US, maybe the world- Supply is VERY low- Houses are no less than like $600k-$700k, I'm also getting outbid a lot.- Now Foreclosures may be a good discount but at the same time I already know that there is aLOT more risk to this.I already have a real estate agent, a mortgage broker, and am getting connections to contractors and so forth.My few Questions are:- Do I need a real estate agent in this process for foreclosures?

Additional escrow may be added for security for the seller.

Purchase price: $420,000 Cash invested: $55,096 Purchased a distressed single-family home in Antioch, CA, using the BRRRR strategy to create $141,000 in equity and secure a cash-flowing rental property.

Is the option government supplied insurance where taxes supplement the insurance?  

The online eFile providers can do it for you, sometimes for free.Warning: Email is NOT secure, and you will expose your contractors to unnecessary risk of identity theft.

You must keep the tenants security deposit at a bank that physically operates a branch office in the State of NC.