I've been looking to get my feet wet but havent because I have ZERO experience.  

PMI was created so that lenders could offer higher LTVs (which means lower down payments) while still keeping their risk in the deal at tolerable levels. 

How about the south strip properties with sub $200 hoa or zero hoa?

I'm pretty sure the kid doesn't have credit history...Hello Bob,I'm not too sure of the law in your state or your own personal policy, but I can tell you that we ALWAYS put anyone over 18 years old on the lease.

Also check your insurance and general liability policy for the property.  

With a lower credit score your lender is going to want a rental history Most likely 12 months at a minimum of cancelled checks showing rent paid I wouldn't be surprised if your lender brings up payment shock (going from zero housing expense to a mortgage) when you go to apply

I guess you could ask for a commission reduction, but that agreement would have to be signed by your broker (based on my understanding, not giving any legal advice).Some Managing Brokers have policies prohibiting For Sale by Owner sales.  

My guess is that rate (assuming its $390/yr) is a pre-existing owner policy cost and your costs will be higher, almost double.Now if the price you quoted is per month, I would not look into it further, as that is a very high cost.

As you have found out, a regular home owners policy is not meant for this situation. 

Like it or not, lenders and selling banks are overseen by government regulators who often prioritize owner occupants in policy decisions and talking points.