I would double check all this, but my understanding is as follows:The property owner is still responsible for repaying the mortgage, even after condemnation. 

I plan to sell and 1031 exchange this property in the next 12-18 months.

Quote from @Zach Edelman: Why is this better than just paying off your entire balance before the statement closing date?

This is my first extensively water damaged home that I may purchase.

Hi Elimar, glad to have you as a part of this awesome community!

RoofstockRoofstock allows you to browse a wide range of rental properties for free, providing a valuable resource for finding turnkey investments.

My name is Leo, and I’m excited to join this community of real estate enthusiasts.

This would be our second duplex house hack, and while it's been a great investment, the neighbor our current duplex is located in is not the worst, but not the greatest either, especially when it comes to school district.

Ok @Marc Shin this is such a loaded question!

@Mario Morales we would definitely use Zillow for something like this.