MI is the mortgage insurance lenders require.PMI is set by lenders on a lot of different loan programs. 

Just to be clear conventional loan guidelines are just the standards set by FNMA to buy loans that have been originated, they don't obligate anyone to actually extend those loan terms to borrowers.

Keep educating yourself before you dive in so you can really set your standards and not get your hopes too high up.

Between the time of her requesting the walk-thru, and the 18th, the move-out inspection guy called me and we set up a time to walk thru the house. 30 -40 minute walk through and I asked if he saw anything that I need to tend to, or what he thought overall.

I have a great set of resources around me willing to jump in on rehab quotes and work.

And if cash flow is a big goal, then get set up with a few short term rentals in a low cost area with decent numbers.

I set up a REI company and set aside some cash, but would not be able to do an all cash deal to start.My concerns are two part:1.

If I'm in your shoes I would use this as an opportunity to set the tone with the tenant about how you operate as a landlord! 

A few weeks after paying the $25k, we set up our first meeting with our assigned CPA and started the so-called “advanced tax courses” provided, which are generic modules that only vaguely introduce financial concepts, topics, and terminology.

I would set up hookups for water, sewer and electric according to code and write a lease for it that makes sense.