Hey Mike, I offer a white-glove solution for out-of-state investors for STRs in the Pinellas County area (Clearwater to St Pete). 

Possibly, but its just gonna get added to the balance of the loan and accrue additional late fees, interest etc.

One suggestion would be to offer the seller a chunk of cash extra to offer the tenants a keys for cash option.

The best way to verify that is call the current agent for the policy and ask them what happens when you buy it - will the carrier still offer a policy?

Hello I am trying to take out HELOC to buy some additional property. 

Also, There may be times when you must pony up some additional cash to keep your business operating. 

In my market, agents/investors/wholesalers pitching creative financing get this objection as well.They typically have a 2nd offer (usually much lower purchase price) for the owner to be able to accept now and cash out. 

When I was looking to find a property management company to rent out my own house I wasn't getting enough value for the money IMO and I would've loved if they offered an option where they only took care of maintenance and charged a lower percentage.

Would love to chat and offer any help that I could provide! 

FHA option has a lower down payment but I'll warn you that not many sellers even want an FHA offer in my experience.