In some areas, only rents are included in judgments; some judges will eliminate late fees that appear to be usury.

It removes the flood designation.This results in eliminating any lender mandates to purchase flood, and it enables the owner to have choices. 

I have pretty much eliminated my housing expenses as a result.

Dan,To answer your questions about the process I explained, yes, it does address potential creditors and yes, it eliminates the need to probate.The big difference between probate and an affidavit of heirship is the public announcement of probate vs. the private affidavit process.

If your tenant eliminates your mortgage it is a good deal. 

You are able to diversify your portfolio and avoid paying that large check to the IRS  Plus, at your death, your heirs will inherit the property at the stepped up cost basis (eliminating the original low cost basis on the original property)

Another factor to look at is that can you put 20% down to eliminate the mortgage insurance?

My goal is really to eliminate my mortgage payment for a few years to really focus on putting some money away.Thanks for the response, @Brett Merrill 

Work on your renovation "system" to eliminate these overlooked issues.

Using the conventional product first does a couple of things for us:We won't have to refi out of the FHA loan to eliminate PMIOnce we reach 20 percent equity PMI will go awayWe still have our FHA loans available to useHaving a "non-occupant co-borrower" is a great way to qualify for financing.