Lender stipulates that I live in the place for 1 year minimum.I plan to live in the 3/1 for a while, take care of any maintenance items and make some cosmetic updates, and eventually rent it out.

Practically speaking, that means that any safety issues (unsound structural items, unsafe wiring, etc.) and "broken" systems of the house (plumbing, heating, insulation, etc.) will need to be fixed.

I share the properties between the providers and can gauge their performance and price.The responses are great and they cover items within the infrastructure such as AC/heater,electrical, plumbing, garage door etc.If there is anything uncovered that needs to be fixed, my broker connects me with local handy men or professionals to take care of those issues.One of the providers, https://www.ahs.com/ charges $75 per call. 

Once delivery and acceptance occur and the document is recorded, it's just a record keeping item in your safe or file cabinet (or wherever important papers are kept).If you're trying to engineer a deal whereby you profit from a difference in price between your seller and ultimate buyer then you need to make certain it has the components of marketable title. 

Best thing is to contact the Loss Mitigatory of the bank. 

Thanks for the insight @Wayne Brooks, I know someone that has experienced multiple job loss on and off for the past few years.

If these significant losses are not recorded in LP’s tax return then upon exit (when the property is sold) the LPs will pay more taxes than due because depreciation recapture will apply even if losses were not recorded in prior years’ tax return.

It would behoove a buyer to visit the place to put a local team together who can run the day to day for them.Questions to ask your agent: What deferred maintenance is known and what were some recent capex items done on the property? 

If you do not know what NOL (Net Operating Loss) is, this alert is not for you probably. :)If you carried your 2018 NOL to 2019 or carried your 2019 NOL to 2020 - you only have UNTIL OCTOBER 15th, 2021 to reaffirm this choice.

My kitchen table is in my living room covered with desk and studio items.