Required 2 years of W2s, tax records, insurance records, mortgage records, called my work, sent out appraiser, signed several docs + a notary to my house for final docs.  

if i have a 7 year sandwich lease with a home owner and i do a 2 year lease option with a tenant, after the 2 years is up and they choose to buy the house. when i get the money can i immediately pay the home owner off and keep the profits or do i have to wait until the 7 year lease is up to pay off the house?

With all expenses calculated (taxes, insurance, mortgage, PM (10% cost), Vacancy, and Capex), does it still cash flow? 

If something happened, would I be covered under liability protection with my insurance.5.

If something happened, would I be covered under liability protection with my insurance.5.

For landlord insurance - just go to like Allstate?

How do I convince homeowner to take my offer on there home when they are emotionally attached to home?

Bump up your insurance line-item - commercial insurance for STRs is something you'll need, and it's notably more expensive than a regular homeowner's policy.  

Are you allowed to approach the homeowners (by call, mail, etc.) if they are issued an NOD?

Does anyone have an idea of what I might expect to pay each month for insurance costs?