Very little out of pocket cost. 

Food cost, Insurance cost, Drinking cost, eating out cost are all going up.  

They'll both come with MI, but with FHA, you MUST refi in order to drop it, which will cost you an additional $5-10K and who knows where interest rates will be when that day comes, so it could be cost prohibitive to do so. 

However, for every other year you will be paying these costs or at least needing to budget for them, and they will likely take away all of your margin.  

Let’s see some of those “uh-oh” moments.DIY Disasters: Tried to do something yourself to save money but ended up costing more?

It will cost me and extra $200 a month for the added flood insurance but I was told it will likely double or triple in price once it is no longer a primary residence.

We financed the Bristol St deal using Partner Driven's capital, covering the $167,000 purchase price and $41,000 renovation costs.

Spectrum has raised their costs double and I was considering asking him to take care of  his own internet costs and finally,  How much of a notice is normally required, in writing?  

During the Due Diligence Period, the Buyer shall have the right to conduct, at its sole cost and expense, any and all inspections, examinations, appraisals, surveys, environmental assessments, and other evaluations deemed necessary or appropriate by the Buyer.Financing ContingencyThe Buyer's obligations under the PSA shall be contingent upon obtaining financing in an amount and on terms satisfactory to the Buyer, in the Buyer's sole discretion.

Basically it's about the same cost but includes everything needed so I didn't have to pay extra for a dialer, lists etc.