The same thing for Title on our contract we had the seller paying 100% for the owners title policy, which apparently covers the title policy but not all of the fees associated with said policy (Mortgage recording fee, Endorsement Fee, Messenger Fee, Sub Escrow Fee, Mobile Notary fee).  

They will only do 80% LTV of contract price or appraisal (whichever is less) by the letter of their policies, but on our last deal (4 months ago) the one did 80% LTV of appraised value, which came in significantly higher than contract price, giving us about $20k cash out for remodeling expenses.It is certainly a touch-and-go market with the well-established players who have good credit and a clean history still able to do deals.

Having a great insurance policy is also another layer of protection.As far as husband and wife, 50% each is fine.

I’m accounting 8% to vacancy each month, but it seems completing a rehab the first month or two after closing, additional holding costs should be added to cover PITI and other expenses.The 8% vacancy wouldn’t be enough to count for the initial upfront costs especially if it takes two months to rehab before the unit can be rented.Anyone have experience or suggestions on this?

While i may bemoan some of the pro-tenant leaning policies that are getting put in place, it sure does make real estate values go up. 

Of course none of that means anything unless it is written into the mortgage but knowing the policies from your lender can help.  

It seems most people want to vilify anyone who is doing well and throw pity parties for themselves.

In a standard real estate purchase and sale, the transaction is closed by a title company, a warranty deed is used, and the buyer would get a title insurance policy. 

My guess is that if it is a request from the lender, he is speaking about the lender's title policy, which is title insurance for the lender. 

Since my plan is to scale and have 5+ units this was a no-brainer - also good cancellation policy!