I look forward to interacting with everyone here and can't wait to be the old-head passing on wisdom rather than the noob on the sideline :)-D

You definitely don't want them cutting off the utilities for that long.You could also ask for the rent up front for the time he will be out.

Some examples:--Contact township regarding permitting process--Meeting with attorney to draft rental agreement--Contract with construction company that covers scope of work and timelines--Turning on utilities!

Open to your thoughts and guidance and to interact online and in person!  

Even if the use is authorized, what do codes say about utilities, entrance and access?

Title companies insure from the last insured transaction, called a "starter" and utilize reciprocal arrangements with prior insured transactions"In order to satisfy a title underwriter the a secured debt has been paid and eliminated as an exception, besides an affirmative response from the lienholder, including a demand with a zero balance and release and satisfaction or reconveyance, you can alternatively move the risk elsewhere.

Current owner was smart so the lease requires the tenants to pay all utilities.

Make sure to interact often to get to meet them!

My schedule E shows rent income, and after expenses such as repairs, taxes, utilities, etc, I ended up with a net loss.

So we're not committing to anything until AFTER we've had time to verify everything.Regarding costs that we pay out of pocket - Any costs that we (xxx or I) spend out of our pocket (i.e. materials, utilities, insurance, evictions, taxes etc) we would expect to be compensated those costs back at closing.