The brokers says she does not want to release Funds to seller before work has been made and paid for by the insurance.

Does anyone know of any insurance brokers or PMs that specialize in MFH in the Phoenix, AZ area?

I loves in a few during my undergrad years, it was nothing to have 250+ people in a half double 2 or 3 times per week for a little party, that’s just the norm in Stroudsburg.Parents sign the lease, renters insurance required, monthly checking, 1st, last and security.

well your description of the situation is not complete.. do you know its landlocked.. somehow if there is a home there I suspect it is not.. but it does happen I am in a landlocked case right now been two years fighting it thankfully I have title insurance and they are paying the lawyers.. first thing you do is not rely on your own due diligence if your not a surveyor or familiar with maps etc.you do one thing first .. you order a title report.. you may have to pay for it.. say 200 to 250.. your probably in a title abstract state. ( not sure but most of the NE is)  the title company hires an abstractor to do the court house work they will then write you a title commitment.. if your TRULY landlocked there will be an exception IE they wont insure access.. if this is missing then you ask them to clearly denote on the plat map where the legal access is.. you then take that map and see if it works on the ground.. 

If they've been with me for 2+ years then I may let them go month-to-month at the standard rate.

Like I am avoiding condo prop for big mgmt fees and costly insurance.

The current standard closing timeline is too short to also get a HELOC approved in time, and the mortgage lender will usually need to see those funds available to underwrite your next mortgage (though I'm not a lending expert, and it's possible if you used the same lender for both products, this might condense a bit more).In terms of strategy, we got the HELOC for as much as the lender would possibly give us, but only took out what we needed for the specific property when we found it.

The foreclosures can come with a lot of risk, mostly because there's no standardization with them so you' have to investigate every single property very thoroughly to know exactly what you're getting. 

@Shaun MorganShaun,  Some generals numbers for you; 2% rule (search the millions of hits on any search engine), Return on Investment (ROI), Cash on Cash returnCome up with a standard for these any other other number you can calculate.  

. $5000Total investment: $30,480Mortgage payment: $530/month (Conventional 30yr at 4.6%)Annual rental income: $21,000Annual Expenses:  Property tax  $1200 (verified through property appraiser website)Insurance $1,200 (best guess)Prop man.$1,680 (8% of rent)Mortgage $6,360Calculations:NOI = Income (minus vacancy)- Expenses (Prop tax, insur, and Prop mgt)         = 21,000- 4,080          = $16,920Cash Flow = NOI - Debt service (mortgage)                  = 16,920 - 6,360                  = $10,560ROI = Cash flow/ Investment basis       = $10,560/ $30,480       = 34.6%Cap rate = NOI/ Purchase price                = 16,920 / 129,900                = 13.0% Cash on cash = ???