Enjoy that well earned retirement. 

It is offered through Awesome REI-Patrick Riddle(another awesome team and distant Mentor of mind) I enjoy their style of teaching because of their honest, straight-forward, and experienced no fluff.

The bank then writes a check from the borrowers deposit account to whomever the money goes to.Do you see what's happening?

Here is what I would do:I would still close on the property but send a letter to the sellers broker and the seller along the lines of below (note I would have an attorney write it and send it):It has been brought to our attention there was a $15,000 insurance claim on the property.

I don't like AI descriptions (sorry @Andrew Steffens).They look and sound completely like it was written by a bot, which it was.I like to write my own copy for listings and I respond directly to all guests, inquiries and issues.

On the financial side, work with a CPA who understands real estate to optimize your tax strategy, especially for deductions like depreciation and expense write-offs.

Even if my cash flow is negative while I live there, I will still be enjoying all the long-term benefits of owning real estate and my living costs will be cheaper than renting if I choose the right deal/property.I appreciate the insight!

If you enjoyed it, we’d love a quick review—it helps us a lot!”

Did you write a check out to that title company for the EMD?

Best of luck, and enjoy your journey into real estate investing!