I'm not sure if this would help but I am the owner of her officialDeath Certificate and in the (Informants Name) box my name is on it, I was the one who paid for her cremation and did all the legal papers after she died and I was the one who she left her Life Insurance Policy to as well as I am her 401K Beneficiary...

Loss of insurance on the house for non payment.

The mortgage would would mature March 2043  (approx 25 years) and would be $1454.50 per month (not including taxes $3794 per year and insurance - no PMI).   

Flood insurance can be really high. 

What type of insurance do I need to get as I will need to evict the person first and then do some rehab to make it a rental?

HiI own several multi family buildings in Central / North Florida and for example on an older duplex I pay $700 a year for insurance, which I feel is a good deal. 

Even legendary billionaire investor Warren Buffett, with all of his endeavors into energy, insurance companies and holding sizable stakes in companies like Coke and Wells Fargo, still calls his own home his best investment ever.

I've made many improvements to the property to insure it was properly secured and to prepare it properly to become a rental property.

Holding costs are things like mortgage payments, taxes, utilities, insurance, HOA fees, and anything else that pops up while you own a home.

If they do not accept, I can rest assured that it isn't too much of a set back and proceed with the purchase.