I’d call your insurer first about this

Make sure you have a title search done and get title insurance.

@Matt Matyas To have an actionable plan that will work in your area, you'll need to speak with the Town/county board of health and/or a reputable septic installer/maintainer.

Would it benefit in terms of pro tax, insurance, hoa, utilities (if included in the lease) to be written off?

I am wondering what forum members would do.The house will likely sell for around 155kI owe 55k on first, and 50k on secondMarket rent, is likely around 1250 a month.Roof was done recently, it will need a hvac sometime soon.But other than that its been a low maintenance house.My mortgage payments with taxes/insurance on a 15yr fix at 3.25 percent is 800 a month.I am 5 year into the mortgage, and pay down about 400 a month in principal each month.Thoughts?

The HomePossible loan will likely be a better loan option for you than FHA if you have good credit, and it will save you 1.75% of the loan amount in FHA upfront mortgage insurance premium ($600,000 loan x 1.750% = $10,500 in FHA UFMIP). 

Hi Folks,I recently want to re-evaluate my rental properties insurances as well as looking into umbrella insurance to cover them.

You can accomplish same protection with good insurance. 

I played for the New England Patriots and now I own my own Insurance Agency.

I own a condo in Margate City NJ.  It was originally a vacation home but we've operated it as a vacation rental for the past few years.  We want to sell it and upgrade to a single family home also to be used as a vaca...