Meaning, if you're renting for $900/mo and your current mortgage is $700/mo, you're $200 ahead, minus another rental for your family's needs of $900 (assuming you'll be renting same-ish size as one you're looking to rent out now) = -$700/mo so this would be pulled from the cash reserve amount or monthly income amount.

Maybe Bowling Green has a medical community tied to the University which would provide short term guests doing internships or visiting professors. 

The couple is seemingly in their 70s and disabled, after visiting the home I'm legitimately concerned for their health and safety and feel like its my obligation to try to help.

If I were you, I would pay a visit and figure this out myself.

Me and my husband visited the properties very early this morning to get updated pics and found most had been vandalized and some even had squatters who made it clear they weren't leaving without a fight.

Do I HAVE to have a contractor lined up ahead of time to use these funds as part of my delayed financing?

Or go ahead and attempt to get him out of there?

I've found I learn best by just diving into something - and would like to buy a property by next April.The first thing I'm looking to do is start networking with some investors in the Midwest, and visiting/researching markets to get a feel.

I think I will go ahead and hire both an attorney and go through a title company for getting title insurance.

Realistically you should have a new tenant placed in less than a month, so 2-3 months rent should put you break even or ahead.