This whole process was uncharted territory for us, and making sure I set things up correctly was nerve-racking and crucial to ensure no prohibited transactions occurred.

@Josh Salvo Pre-08 two loans were a common occur to eliminate PMI on banks loans.

Pipes are under the pier and beam house, and no structural damage occurred. 

With a good property manager selecting the tenant, we've done very well both during the 2008 crash and through COVID.Transitional tenants - These people make enough to buy a home but some event has occurred that made renting more desirable.

So, if substantial completion occurs mid-month, the tenant will pay pro-rated base rent during the remainder of the month, then the base rent abatement period begins at the first full calendar month.

[Remember, "Delayed Financing" can immediately occur as if you've already paid cash, so long as any borrowings did not use the subject property as security]. 

(which seems wrong, because I can look at flood maps and see that the property is NOT located in a designated flood area, nor am I required to carry flood insurance.)Perhaps thew wording of the second option "Landlord has no knowledge..." is intentionally vague, since I don't want to be on the hook for some freak accident that causes flooding, and therefore I SHOULD include this form, but tick that box?

It occurs to me that if you are the only one in town who is renting out housing units, you can make a killing from the lack of competition.

I now have a home in Springfield that I acquired largely by accident and it needs a ton of work and just am sort of looking where to start with it.

Your best protection however occurs before a contract is even signed.