At $89k ask, there are $5,500 in closing costs ($1,500 of that is tax prorations) and then $2,100 in prepaids (insurance/taxes).

@William Larson Make sure your insurance policy covers your complete annual rental loss.

How did you research and evaluate those "costs" of leaving the corporate world, how did you find health insurance for you and your family, etc? 

The bank will find out when the insurance policy is updated. 

It sounds like any other sale, even though it is being done by auction.  90 days is Plenty of time to get financed, but you’d have to make sure:It’s zoned as residentialIt will appraise for your bid priceYou can have access for insurance and lender inspections/appraisals.It is in good enough condition to get a conventional loan, or you could take a shot at a 203k or Fannie purchase/Reno loan.The auction terms/details Should tell you if this is prohibited for some reason.  

I'm not even sure how this would work since the insurance company is paying HH and HH would be paying me.  

Typically, borrowers must provide title insurance policies to protect the lenders' monetary interests.

.$430,000 (ARV)-$310,000 (Balance could be plus or minus several thousand)-$20,000- Holding Costs (insurance, utilities, PITI, etc) about 6 months...

compensation: Box Rate employment type: contractTimberlake Cabinetry, A Division of American Woodmark, is seeking qualified cabinet installation contractors in the Central PA/NJ/Philadelphia area for new home construction.Competitive Pay.Some service/punch out work required.Must be able to complete up to 25 cabinets, trim & accessories in 1 day.Must have general liability, workers comp and auto insurance meeting minimum requirements.Must be able to pass a background check(no felons).shoot me a message or forward along to anyone you might know.

After insurance pretty much paid to rebuild the entire house, we sold for 135,000.