Most people would jump at the opportunity to rid themselves of debt.You are allowed to add monies above X on the payoff demand if that money was spend on things related to the X deed of trust...taxes, insurance, property maintenance. 

For sellers, we insure proper state and local disclosures are prepared and available before offers are made; market beyond MLS & online listings, like postcards, flyers, Open Houses, agent networking, etc.; schedule showings and analyze feedback; assist with and analyze offers to insure you are protected, (ex., avoiding those trying to tie it up to resell or not really qualified, clarify costs involved or strange terms in offer, etc.); guidance through inspections (as many sellers get emotional and lose sale during this process), coordinate required repairs, resale packages, comps for appraiser to help avoid appraisal issues,  pest and moisture reports, walk-through, etc.   

Do I need to purchase mortgage insurance for this property?

I have had to somewhat adopt it as I work with several investors on here who use it.To me being a "hack" implies being sub-par or doing something incorrectly or not to standards.

Up to this point I have worked with an agent that has their standard offer contract that they use or wholesalers that send out the contract that they want used when sharing their off market deal so the DIY approach is new to me and I don't want to make a costly mistake.  

Is this standard?

I just bought my 1st rental property last year and need some help with what costs to file for tax return.Turbo Tax asking to escrow fees for following categories:Abstract and recording feesLegal fees, title search, document preparationland surveytitle insurance transfer or stamp taxesexpenses you paid for the sellerThese are the expenses on the closing summary:Record deedrecord mortgage mortgage taxbank attorney feeHOA questionnaireflood certification feetitle examtitle insurance (mortgage)title insurance (owner)delivery chargelegal feesapplication feeappraisal feecredit report feewhich categories will the fees on the closing summary fall into?

Its the gold standard of low money down investing choices. 

You can do this but remember that you are held to different standard in the military.

Would you know where I can download a standard template for this document and then I can tweak it to my needs ?