Account Closed, the qualified intermediary must be in place prior to closing of the sale of the relinquished (old) property so the exchange can be documented on the settlement statements and the client not have actual or constructive receipt of the proceeds.. 

If you're going to invest long distance prior to living in the property, your down payment will be greater (20-25%), 20% because it is an investment property and 25% if it is more than a SFH (duplex, triplex, etc.). 

I agree with the prior posts. 

Make sure you are financially sound though prior to investing as those habits will be very important to being sure you don't get in over your head.

Regardless, the lender and title company should have discussed any amount due prior to closing when your offer was accepted. 

You are correct on doing due diligence on prior liens.

You should find a link on their home page for instructions on how to apply for a full refund."

About an hour prior to closing I showed up to do my pre-closing walk through to verify the house had not burned down and to retrieve my lock box.

It all depends on when their prior lease ended and what the clause said regarding the lease automatically renewing. 

Current or prior ownership of real estate: Currently own 1 rental house in Portage,IN and have only my DP in equity, 25% but comps in the area show property worth another 10K (+ the 25K down)Occupancy: 2 homes pay land lease, 4 long term renters and 5 other homes leased with an avg 90% occupancy.Value of property at present and/or your offer price: $175K list and seller is willing to leave 12K in escrow return to buyer after purchase.