I know your original question was posted over 6 months ago, and I hope you were able to start/grow your real estate portfolio during that time.

So to answer you question if you can honor the lease, you can if you buy with an investment property conventional loan.

The subjects are on point along with the guest speakers that share their good and challenge experiences, after all we are here to learn, and making mistakes are part of the process.I’m original from Lima - Peru (bilingual of course), but I’ve been living in the USA for 24+ years. 

I just recently sold an investment property that i originally lived in. 

Hope this gets you started in the right direction, and please let me know if I can help answer any questions!

Purchased at $166k, present comps at $285kI am on the market for my next property, which is why I'm looking at forming an LLC for the original rental.

I just wonder if we see less offers now that the origination of them will likely require a price for most of us. 

Original loan value of $163K taken out in 12/2009 with Bank of America.

With luck, insurance should cover your damage restoration costs to get you back to the original pre-repaired state if you've been vacant less than 60 days (they are not going to pay for your renovations if they havent yet been completed).

After emailing back and forth for days  and reaching No conclusion I was finally able to get in contact with my previous accountant who blessedly answered my pleas for assistance.