Also, if you try to buy two multis so close together with no (or low) downpayments, you're probably going to have a pretty hard time qualifying (unless you made a boatload of money & have no debt, in which case you'd probably have money for a downpayment).  

The financial partner can feel confident when the person providing the TK property stays on in the deal...and doesn't just dump it and run.  

Plenty of the right insurance coverage is your best and financially easiest route to take.

@Elaine Fawcett I've been told by auctioneers that the hidden reserve is generally at least 70% of whatever the total outstanding debt is on the property, if not closer to 100%, particularly in the competitive market most areas are seeing.

It says the debt service is $97,994 / 12 = $8166.00 per month .

If that were to be comprised it could ruin you financially.

Send them to a financial advisor.

My husband and I paid off our current home's mortgage in 2008, and it's been a great feeling to be completely debt-free.

I use Ally financial for my rental checking and rental reserve account, about the best interest rates you'll find for FDIC insured bank accounts.  

Are they willing to pay you now for a background check and financial report?