Confirm the seller is only paying $1,500 and not “mis-rememebring” and then ask for the same policy on the same property. 

With new lending policies and criteria though, it is becoming more difficult, but you can still do it.Here is an example, yesterday I bought a triplex in Phoenix for 240k worth 340k.

I’ve been pre approved for 555k in such an expensive state ( new jersey ) im aiming for something around 415k-450k.

I went in person to Tenant B and explained the rental policies stating the premise should have quiet enjoyment by all neighbors.

Hey everyone, this post is really aimed only at those in the Mankato, Southern Minnesota area.

Side note - I don't understand why hosts are strict on their cancellation policies.

@Freeman Schultz I would file on the tenants insurance first, and then and only if they don't cover, then file on their own owner insurance policy.

This is definitely one option that I am aiming to use if not with this property then another.

Not saying you are that guy, but the bad guys made it difficult for everyone in the future.Your mortgage probably does have a due on sale clause.You might be able to do some financing some other way....like pull from 401k to pay off the land and then owner finance....or get a HELOC on your primary to pay it off, borrow from life insurance policy, something like that. 

Going over to the Tamaulipas state might be tricky given how rough it is, but it's got great location, and if we ever get a more common sense drug policy, and things calm down there, it'll be worth much more.