Since you have high incomes and can cut your spending quickly if necessary you should be ok with some cash in a HYSA and some short term credit available.

To be clear, I am not an accountant.  

If the cost of rehabbing it is more than it’s insured for, they’ll just cut me a check for what it’s insured for minus the $2,500 deductible.

Just ensure the agreement is clear and formalized.Pooling reserves across properties might make sense if you’re confident in your cash flow and other contingencies.

. ;-)  Clearly, he doesn't cause you're the same subto guy that's been peddling the forum for the last couple of years.

But the IRS has made it clear that they are leary of these and not big fans.  

Moreover, the government has made it very clear that it wants to attract foreign investment and a measure like that would be totally counter-productive and downright dangerous and negative for the country and it's the economy.

On the initial agreement, it clearly stated that the buyer was going to be using financing and listed the terms of their financing

Without replacement jobs, city incomes decline, forcing cities to cut back on services like schools and police.

Just to be clear, I am not in anyones corner on this one, I recommend everyone always do their own due diligence as part of any deal.