I try to get a policy that covers theft and vandalism on a vacant dwelling. 

I’m under the impression that I’m a double closing that you would need funds upfront to cover the cost of buying the property from the seller then going back to the end buyer and finishing that contract and that’s where you would make your profit.

I’m under the impression that I’m a double closing that you would need funds upfront to cover the cost of buying the property from the seller then going back to the end buyer and finishing that contract and that’s where you would make your profit.

Unless you promised to pay for their hotel ahead of time, there is no way I would cover that.FWIW, I do keep a spare window unit that has both a/c and heat. 

Also, I will not be able to physically look at the house for at least the next two months so I can't confirm the state of the property although it appears to be in good condition from the pictures.

Just be sure that the property will cash flow enough to cover all your normal expenses (debt service on the 30 yr loan, CapEx, repairs, vacancy, taxes & ins, etc) PLUS enough extra to pay off the LOC in a reasonable anoint of time.

You starting to see the picture?

Is it good if the rent covers your mortgage?

This covered my mortgage for the two years that I owned that house.

I am content with everything as-is, just curious to hear others' thoughts and experiences with how their financial picture changed after 1 purchase.