It sounds like you're saying to think longer term, to let things develop.

Right now, for the liability coverage, we have an umbrella insurance in place. 

You might be better off financing this with a short term fix and flip loan.

This is easier to achieve for short term rentals, and a bit tougher for long term rentals - but I've been getting close for LTRs as of late (closer to 7-8% for LTRs).

Primarily when downsizing they question your occupancy intent (Claiming primary residence on a fixer upper for favorable LTV terms, with intent to convert to an investment in the short term) but everything can be worked out with proper documentation.

We used traditional residential financing and are prohibited by the terms of our mortgage from moving the properties into an LLC.

My normal insurance provider(Erie) said they will not provide coverage on a rental we are about to purchase due to the home having fireplaces.

I understand Craigslist is one of them, but could you specify what terms or categories you search for to find these opportunities?

.- Contract Details and Terms: Carefully review the sales contract, including all terms and conditions.

These homeowners also are attempting to cash flow their home over pretty rough mortgage terms.