You can also build in other renovation costs into the loan to get the home habitable.You can also look at FHA's 203k product, it too will cover structural repairs.It sounds like you are running into an issue with intent to occupy clause (usually 60 days after close). 

“While we support new entrants to the sharing economy and the competition it brings, we must be aware and very cautious of the negative impacts and repercussions,” said David Drennon of the Phoenix-based Arizona Lodging & Tourism Association, which lobbies on behalf of trade groups including the Southern Arizona Lodging & Resort Association.Drennon said his organization has no quarrel with a homeowner who occasionally rents out a guest house or spare room for extra cash.

@Stone Teran appraisals are usually good for 120 days.

DO NOT let negative people impact you and tell you it can not be done.

Just remember: most negative reviews are written by problematic tenants.

Unfortunately, unless the money is gifted, it is not as simple as them just writing you a check.Passive investors receive at least 50% of the deal, and usually even higher based on your experience level.

@James Marshall Bank has the right to call the loan, but usually wont as long as they are still receiving payments.

Usually cutting the amortization and hiking the rate which often times doubled their payments. 

Just remember: most negative reviews are written by problematic tenants.

Usually the tenant would claim against the owner, and the landlord's insurance.