The actual amount it will cost to replace your home cannot be known until after a covered total loss has occurred.I will contact some investors in my area that have multiple properties like mine and seek their advice.Thanks,Serg

@Zach Shatto I am not qualified to answer the legality of anything so I would seek out an attorney to talk with.

REIA meetings are a nice place to meet like minded people and discuss current market topics, but it is far more important to be seeking deals.

Maybe you need to understand that one goal of most investors seeking passive cash flow is to have enough to live off of at some point, they don't necessarily care what the return is at that point if they are sitting on a beach drinking a margarita every day.

The concepts essentially are just seek to help people, and by your actions, people will become attracted to you.

What, if any, legal obligation do I encounter if he leaves after the year (or sooner) and decides to seek compensation? 

Seeking expert advise on how to best start REI.

@pat_clark More stories by Patrick Clark‎February‎ ‎23‎, ‎2017‎ ‎4‎:‎00‎ ‎AM As rising home prices, slow new home construction, and 50-year lows, the U.S. is increasingly a country of renters—and landlords.Last year, 37 percent of homes sold were acquired by buyers who didn’t live in them, according to tax-assessment data compiled in a new report published by Attom Data Solutions and ClearCapital.com Inc.That number may include second homes, or properties acquired by investors who seek to fix up old homes and resell them at a profit.

In case 2, the couple just backed out without seeking further evaluation. 

Right now I'm mostly seeking knowledge in real estate investing, and I hope to apply that within the next year so I can get started investing!