Here's why:  Even if the contract maintained insurance, I doubt the carrier would pick up coverage.

Hi Flavia, Research the local market trends, economic indicators, job growth, and development plans in the area to gauge its long-term potential.

While you're talking with bank find out if your next purchase would be based on your DTI ratio or if it would be based on the debt service coverage ratio of the prospective property.  

I'll gladly give up a possible higher Christmas week for a medium term tenant to get me through the offseason. 

Are you looking at long-term rentals only?

**Loan Agreement:** The borrower and lender enter into a loan agreement, which outlines the terms and conditions of the loan, including the loan amount, interest rate, repayment schedule, and any other relevant terms.3.

We've looked into this some, and I see that there are ITIN mortgages, but their terms are quite unattractive.Is there another solution?

I would advise to use a short term hard money loan, acquire it quickly, rehab it, and refinance into a long term DSCR loan. 

To my mind, strictly enforcing lease terms is closer to a last resort than a first option.

Longer-term money like that means you can be more patient without constantly hearing the tick-tick-tick of interest racking up on the pull from the HELOC.