Not sure why that happen, however the best way to screen a potential tenant is to see how they have performed in the past. 

They are trusting in the potential value of the "Hard" Asset.

Congrats on the potential drafting - that's huge.

We bought a home built in 1900, insurance water damage coverage is 10% of the dwelling limit. 

Quote from @Matt Cook: I would really get with a realtor that is in the area of that property and that sells a lot of homes to comp the property on what it can sell for after the remodel.

Those products do exist.Here's some tips on how to find lenders that write this in Texas and for everyone else just in case it get's researched.1.

If you would like to get more than the cash you paid for the property and use the new appraised value, the shortest period I've seen is 3 months of waiting period between when you closed on your last loan or transaction to when you close on your next loan / transaction.More on DSCR loans in case helpful: DSCR loans won't use your income to underwrite the loan.

About a week ago, the borrower came through, paid all past due payments, paid all the costs associated with the foreclosure, and the note is now current.I learned this strategy from one of my clients.

Looking to knock out all credit card debt early next year and rebuild the 6 month emergency fund.

It's on my website.