That's one for you, zero for anyone else.

The buyer never placed him on the insurance policy as "mortgagee".

You need to know your market, occupancy and competitive rent rates, renter expectations, your goals, risk tolerance, temperament, and your resources.You need to know your local tax rates, state/local landlord rules, housing authorities, insurance sources, financing options, occupancy and employment trends.There are crazy tenants but effective management can minimize the risks.Good luck.

We were forced to rethink when we got offered zero percent financing for our new wheels.

I've been managing the insurance policy renewal for my 4-unit HOA in San Francisco since 2005.

By doing so, you don't have "clean title"; if such a transaction required title insurance, the title insurer would list all liens of record that remain unsatisfied as uninsured / exceptions / exclusions on the title policy.

While true if you get your structure pulled out of a high risk flood zone through a LOMR the lender could still require flood insurance, the rate would be based on a low to moderate risk instead of High Risk which on a $250,000 policy with a $5000 deductible in a AE zone the difference between paying approximately $500 a year and $3000 a year.

That assumes there is zero fixup.Now you say you'll use it as a vacation spot between tenants.

As an owner of one of these, I'd be concerned about why are there ZERO tenants first?

Zero financial level.2.