I’m simply asking about that new home warranty since I haven’t had to provide it yet.

Think it thru, it's an idiotic notion that people will just simply use a NEWLY licensed agent, with zero experience, and most of time zero real estate background, but hey they have a license...... 

Yes you pay back the equity, you are simply getting a loan.

I'm a first-time investor (already own a primary residence condo), and while I realize that getting great rentals would require buying off-market or doing some kind of value add (flipping) I'm buying off the MLS as a means to simply get started. 

We simply redirect their attention to a better product and value for their $Sales 101

The seller simply has a note against your property, just like a normal mortgage company would.

Fast forward a little more and she simply cannot find a place to go to.

It is simply not wanting to deal with the property management because they are terrible and wanting to deploy the capital in a different fashion. 

Also check if the property is in an hoa for possible dues you may inherit, current/past due property taxes, etc.In addition I suggest U simply attend one to get the lay of the land.. see who the players are  how its functions etc.. most jurisdictions have their set rules they follow and are unique to that county..  

I was simply trying to wrap my head around the entire process of registering my AirBnB/Vrbo adequately, according to the State's new STR guidelines. https://www.airbnb.com/help/ar...