And cross your fingers Make your insurance is paid 

In this case, your borrower would have purchased a hazard insurance policy naming you as a Mortgagee.

I incude in my lease agreements a provision disclosing I don’t carry renters insurance and advising tenant to obtain a policy.

The Title company did all the work with a warranty deed and Title insurance. 

And reassure them by doing things like adding them on the insurance policy (and you send them proof before funds are sent over). 

Applying the Multiple Financed Property Policy to DU Loan CasefilesIf the borrower is financing a second home or investment property that is underwritten through DU, the maximum number of financed properties the borrower can have is ten.

I’ve put in full baths for as little as 4K and some over 25k.Get multiple quotes, go see their previous work, verify their insurance and build out a draw schedule that makes sense based on labor and materials.

Who pays for what monthly taxes, mort, insurance? 

Often sellers like that would reduce the expenses and leave out things like Yard care, Termite policy, Marketing etc. 

You need to subtract the mortgage, taxes, insurance, management, repairs, vacancy, utilities, etc.