as i understand it, you use a standard purchase agreement.

It's a standard TX Association of Realtors residential lease. 

I do not know if that is standard around the country or is a state by state situation, but I just wanted to hear from you wonderful people about what you know about the subject of how taxes change when you own multiple properties (or if he didn't know what he was talking about). 

After purchasing a property it's my understanding standard homeowner insurance is not sufficient to cover a landlord in terms of liability. 

If less than the amount necessary to close the newly discovered loan, then maybe I am confused but it seems getting out of this deal was a good thing for you?

I went back to the thread and discovered that the person who posted that statement about rental property did, indeed, have a bad experience with rental property.

If you discover any of these issues, have your inspector immediately check if there is any invisible further damage.

See if they can tell you what you have to do to get approved with their underwriting standards in 6 months so that you are ready.

If you plan on renting it out in a standard tenant lease format, then I'd probably recommend selling off the furniture first. 

What other obstacles are you facing ie. changes to platforms standard operating procedures, additional cleaning requirements etc.