Hi Kelli,As a former insurance agent (for Nationwide Insurance) - when loss occurs, nobody complains for having too much insurance. 

All payments made by Tenant to Landlordafter the tenancy commences, no matter how designated by Tenant, will beapplied as follows: first, to any outstanding amounts due for damages/repairs,utilities etc.; second, to any outstanding service charges and fees from priormonths; third, to any rent outstanding from prior months; fourth, to anyservice charges or fees due in the current month; and lastly to the currentmonth’s rent."

., all outstanding financial obligations, including the mortgage, become the financial responsibility of the surviving spouse or the veteran's estate.)

Its full of outstanding real world information from successful active investors.There a a few books here on the site that are really great as well.  

Purchase house at actual outstanding loan 370k at their loss from original purchase 400k or current price about 500k3.Purchase at original or actual price.

The entire income tax liability would be immediately recognized when the entire outstanding principal balance of the installment note is paid off and received by you. 

John, you can buy a property that has an outstanding option held by another party, so long as there is no deed restriction.

Hopefully someone can chime in.The only place to get an accurate number for the outstanding balance is the lender. 

It is also important to review all your contractors insurance coverages for proper additional insured status, limits, indemnity and coverage.For this reason you should contact a broker with an expertise in contractors insurance.Builders risk is written by the majority of standard lines carriers (think nationwide, liberty, travelers).

I manage properties here and have had a few clients from Chicago and nationwide who have been very successful in our market.