The public adjuster will argue with the insurance adjuster and get you the best payout.

New update:I joined 7Figure Flipping through the Runway Program. 

@Shuvrajit Mukherjee - You have to be able to scrape that data from some where pretty easy...a lot of that property specific info is public record.There is a website called chicago cityscape...I am decent friends with the founder....it is sourcing a ton of data that might help. 

Now if you could put down half of that and get the same cash flow, that would be a different story.

Obviously speak to a lawyer or someone with more knowledge, but I have heard of people leaving their FHA home before the first year is up for much worse reasons. 

The seller converted one of the garages into a bonus room and it added 300sqft under AC.

That being said, most originators are hit with a clawback penalty if you payoff your loan within 6-9 months, meaning that the originator has to repay all commissions and fees to the buyer of the loan if you payoff the loan within that period.

How did you add value to the deal?

So on the rental agreement, I had wrote its a two bedroo0m house ,then on a separate agreement, I wrote one bedroom for the remaining portion  of the rent. 

I'm no appraiser but have plenty of fix and flips as well as new construction but IMO, it will be existing home.