That's what the bank was nervous about.Luckily the title insurance policy that I purchased when I bought from HUD said they'd cover that scenario if they were to file bankruptcy in the future. 

So I wondered if there were investors out there who have spotted lenders that accepted the "LLC" exception on a policy level.I think it's only Fannie so far and not Freddie.Tom Gomer, the 12 month occupancy as primary residence requirement is mentioned in brackets as an example of a possible event that violates the purpose of the loan. 

But yeah, the aim is always to nab those when they need rehab or are at a very low price, not at market. 

I have asked for a refund (7 day policy) and I am now waiting for a call or email about it.

If he continues to violate the pet policy or other terms, keep serving him notice and document everything in case he pushes back. 

What is your late rent policy?

You don’t have to worry about the title if someone is buying a title policy at closing.

Immediately after getting an LOI or contract i request the following items....Exhibit BInventory of property tools, supplies and personal propertyExhibit CService contracts including trash, laundry, extermination, lawn service, etc.HVAC and/or boiler reportsExhibit D Property management license (if applicable)Certificate of occupancyExhibit E Certificate of insuranceInsurance claims history for the past 2 yearsExhibit F Commission agreements with the leasing staffCurrent property management contractAny other vendor contractsOther Requested Due Diligence DocumentsLast 2 years of financial operating statementsA year-to-date operating statementLast 6 months of bank statementsUtility deposit registerUtility bills for the last 2 years.Property tax bills for the last 2 yearsIRS Tax returns and addendums for the last 2 years (as relatedto the property only) Articles of IncorporationGood Standing Letter from the Department of RevenueAny licenses in the name of Sathyam EnterprisesRent roll for the property for the last 2 yearsSecurity deposit registerPayroll recordsEach different lease typeWritten property policies such as pets and parkingInformation on all rent concessionsList of any uncompleted maintenance requestsMaintenance and capital improvement history for past 3 yearsLitigation history on the property for the past 5 yearsAny operation manuals for the propertyTitle policySite planArchitectural plansEnvironmental ReportsAny mold inspection reportsAny lead-based paint inspection reportsAny fire system reports or citations

I have been recommended Affinity Insurance for my Dwelling Fire policy as I hear they have a good product.

I will guess on the repair costs with 10k increaments and I try to aim high.