The Deed of Trust or Mortgage gives them the power of sale if you don't!

Question 2: what are the limitations if any, regarding the price of the second home purchase?

Then the contractors realize you know what you are talking about and you will get taken advantage of a lot less. knowledge is indeed powerful.

Landlords are allowed to set their own occupancy limits.

I deal with more protection for my business since I'm a contractor but this seems a bit overkill.Carrier: ScottsdaleSix-Month Premium: $1179.5625% minimum earned premiumCoverages & Limits:Commercial Property: $125,000 Building Limit – Special Form excluding theft; $2,500 deductible; Replacement Cost Coverage; 80% CoinsuranceCommercial General Liability:$1,000,000 each occurrence; $2,000,000 aggregate limitProducts-Completed Operations Excluded; Designated Premises/Project Limitation included.Conditions: All subs must carry equal or greater limits of liability naming insured as Additional Insured, hold harmless contract in favor of insured, with Certificates of Insurance.Thank you in advance for your consideration.

Based on my limited searching, rent values are only about 20% less in those areas and properties are probably 50% cheaper.

Provide that leadership and the sky is the limit.

In Texas, the limit on cash out loans is 80% and that threshold is still present but if you own your primary home free and clear your HELOC can now be up to 80% of the value of the property.3.  

I can share the 'details' but  I am concerned because he won't answer my questions directly, he answers with a question... a power play?

USDA loans have some big limitations- the property must be in a USDA area and you have income caps.  203k is a great option if you find the right property.