Those two declaration pages with coverage periods are all you need to document no lapse in coverage.

Have the requirement in your lease with the ability to purchase that coverage and charge back if they let it lapse 

Wholesaler turned me on to it and his contract lapsed due to difficulty of working with the seller.

There is a time limit before both sales.You would have to wait for the time to lapse before you can do the second 121 exclusion.

Why would I choose to invest in (and strategically have to overfund at the start) a policy that, if lapsed negates the strategy of using it in the first place?

If you are evicting a tenant for a reason other than nonpayment of rent or lapse of time (expiration of the lease) then you must follow an additional procedural hoop before you serve a notice to quit.

Also, you will be notified if they cancel or let the policy lapse. 

I used to be a real estate agent, but let my license lapse when I became a mom.

Pay to seller when lien lapses.

I have been seeing prices dropping and I'm wondering if this is just a momentary reprieve or are we going to see them continue to slide down for awhile longer.