We have 4 different meetings every month to cover all aspects of REI.

@Fred Canzano a Solo401K may not be available to you, but this thread covers a number of topics related to SD IRA investing that may be of use to you.

Or, the seller needs to bring cash to the table to cover the shortage.Or, wait for a buyer who will pay enough to cover the mortgage payoff.

Assuming the amount you're paying is enough to cover the payoff.A short sale would come into play if the amount you wanted to pay doesn't cover the payoff.  

Hey everyone,I closed on a new property on February, the tenant sent March rent by mistake to the previous owner, who refused to send it to me, saying that this covers  the tenant's past owed rent.I have an email from the tenant stating that this amount was intended to pay March rent, so I think that the owner has no right to apply it to the previous rent owed, since it's not his money.Do you think I have grounds for taking a legal action based on the tenant email?

They have to charge it to cover their fixed costs.

I need homeowners insurance, insurance to over my rental and umbrella policy (to cover me) for both of those if I’m correct?

only hope for the second holder is the owner continues to pay on first and the house starts to appreciate to cover her investment..

The price is so low that they cover the costs in the deal.

As mentioned previously, the biggest issue with it here will be that the rent covers the mortgage after you refinance.