Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Generally, the coverage of the policy will state; “The coverage of this policy shall continue in force as of Date of Policy in favor of an Insured after acquisition of the Title by an Insured or after conveyance by an Insured, but only so long as the Insured retains an estate or interest in the Land, or holds an obligation secured by a purchase money Mortgage given by a purchaser from the Insured, or only so long as the Insured shall have liability by reason of warranties in any transfer or conveyance of the Title.”

Quote from @Jordan Kaylor: I'm new to real estate investing and have secured a HELOC on my existing home.  

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

Quote from @Phillip Austin: There are two alternatives to a security deposit, which I speak about in my book.

I would check this out with a seasoned securities attorney for their opinion/guidance.  

I love finding VA Assumption Loan deals and have personally secured one so far as a rental property with a 3.3% interest rate. 

You will receive the security deposit in Checking but then transfer it to Savings.Savings: Hold the deposit here so it's separate from operating funds.

If you see work crews reaching out, ask the person in charge of securing housing where they go looking.

However, many DSCR lenders have a minimum loan amount of $100K, which can make it challenging for investors to secure financing for lower-priced properties.