So that's my sample size of n=3 for you...That said, insurance costs for flood and wind were a key factor in me *not* investing in a couple of properties in Gulf Shores. 

Okay, what exactly is the “temporary occupancy period”?

When we first started, we used Expensify as a temporary solution. 

@Nick KatsikisThe source is the Temporary Regs to Section 469 of the Internal Revenue Code.

The problem is I️ do not make enough to afford the mortgage on my own but I’d like to keep the property because of the location and the opportunity to own a house right by the beach ( Belmont shores in Long Beach ca) other options are to fix it up a bit and try to rent it but I’m not sure if we can rent it for enough to cover the mortgage.

That sounds strange, but you have nothing holding you back from venturing out of your security...because you have lost that security blanket that was your job.I would venture to say, that most of the success stories in history, started out where you are right now...me included.So, with nothing holding you back, and with plenty of time on your hands (time will always be your greatest asset...since you can never get it back), if you want to get into REI, you need to do the following:1 - Learn,2 - Learn some more,3 - Keep learning.Places to learn (before you say "that costs money"), that don't cost any money are:1 - Online education sites that have free articles written by experts in their fields.2 - Free e-books, that you can get online.3 - Joining your local REIC's to both learn and network.4 - ...and never stop learning...even when you become a success at this (and you will)Also, three very critical actions you MUST follow to be a success:1 - Always think possitive.2 - Train yourself to think of future "obstacles" as temporary problems...and you are the problem solver. 

Create the seller financed piece as a $50k second lien mortgage at an agreed upon rate, and explain that you’ll pay down the $50k note to them (which they’ll be earning interest on) and after a year or two (when you can shore up your credit/income requirements) you’ll get everything refinanced into one loan so that the seller and the original lender are paid out.He’ll collect interest on his $50k before being cashed out in the future, and you won’t have to go through a bank.

Depending on your situation and the condition of the roof, I would recommend either a temporary repair to solve your immediate need, or a complete re-roof.  

If you are looking for high level analysis you probably won't find it in a forum post, you might look on Upwork.com and see if you can find someone who specializes in the area of analysis you are interested in and is willing to take on a temporary side job for a fee.

That is my big question on this whole deal, what has caused him not to make payments, and is it temporary or permanent???