I’m open to paying the $20K to bring the mortgage current, but I want to ensure my position is protected.If the deal falls through, how can I secure my $20K so I’m not left out of pocket?

So PLEASE don’t make another huge financial decision and then tell that same person after you do it.

If so, what tools are you using?

Thanks so much, Brian. 

You don't want to be so focused on getting into the game that you leverage the start of your entire life just to do it.

Liberty is a prime suburb so more of an appreciation play.

So I am left getting a policy with a non admitted carrier for likely 2-3x the price for less coverage.

So having a borrower sign a deed in lieu AS A CONDITION FOR MAKIMG A LOAN is not going to stand legal challenge.  

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

It can be a very good market, but the why behind your choice may help us give you better advice on how to move forward.Before realtors and property managers, you really need to meet other investors so you are making a good move by trying to do that here, but it would be better if you could do it in person.