RE is a unique business, it also takes a certain personality to be a landlord/owner and many assume they can or are willing to hold properties but find later it's not for them.

But that's for the future.My current goals, however, are in wholesaling (a popular topic, I assume).

Not sure how that city's codes that you mentioned read, but if there is a UPS Store within the required area, you might consider getting a UPS box and use that for your location ... assuming that complies with the city codes you mentioned.

I honestly would assume they were just trying to get around a rent increase.

With the oil boom and rapid rise in population over the past 6 months I would guess its a good time but I don't want to assume that.

A vacant dwelling policy will cost more and cover less.You said the place is a townhome so I assume there is some Master Insurance in place, which for purposes of your dwelling policy is a good thing.You need to see what your HOA covers in the bylaws to figure out exactly what you need to get insurance on.

How long before I can assume the offer wasn't taking seriously, and that they have no intention of responding?

Assuming the "move on and learn" goes without saying, here's my two cents:I have a "holding deposit" form which takes money and calls it a "holding deposit" and also has clear language on what that deposit will become once lease is signed. (1st month's rent).

If market value is <60k, assume 1% of MV per year, if <100k assume .75%, if >100k assume .5%, if you're just insuring for cash value rather than full replacement cost.

We are assuming 10% vacancy and $600 rents till we can actually see the rent roll and also including is a reserve for large capital(roof/painting/paving).