If you have done your homework and the property is sound, there should be nothing materially wrong such that a reasonable insurance policy would not cover.If you continue to do your homework and screen your tenants properly, you should have a low risk of them destroying the property that an insurance policy would not cover. 

It definitely sounds fishy.

Also note that because you’d be buying from family you’d need to have at least 15% equity on an FHA Loan so make sure the gift of equity is at least that much (it sounds like it would be).

Sounds like you are well on your way.

Based on the roles you mentioned above, it sounds like you may already have your hands full.

I have not seen the property after this work has been done, but I did receive an alarmed call from a realtor who drove by the house that made it sound like some of the work has been pretty extensive.

Interest prepaid for 3 years.Let me know if this sounds fair.

Problem is all sounds great until you have to list and rent it.

Sounds like a great deal and great market to work in.

Thanks,Congrats on your pending sales sounds like you have some exciting opportunities in your future.