If you'd like to confirm that your policy has the right loan provisions, I'd be happy to discuss with you offline.I can introduce you to other Bigger Pocketeer's (who are not agents) and can confirm the brilliance of what you are doing.

Have money in reserves to pay the monthly bills and Pay on Time - Late payments can end the low promotional rate.If I need 40k for a flip (10k from 4 cards)...I deposit them all the same day. 

How can I obtain another property without having to save for a year or so to meet 6 month reserve requirements and down payment?

Its best to have cash reserves for personal and business needs.Do you have them?

It actually confirms my statement.

Follow up question/confirmation: I'm thinking my initial offer to get it under contract will be 70% ARV.

As a first time landlord like I will be soon,I can understand your worries about not getting it rented fast.How much cash reserves do you have on hand to pay the bank in case of extended vacancy,one month,three months?

@Percy N. thank you for the info@Rich Ferradino I just to confirm I understand it correctly.

Upon speaking to the realtor he confirmed that the homeowner was looking for 349k.

The MLS price is not attracting any offers, so they go back to auction with a lower reserve price attempting to unload a stale, non-performing loan.