Hard money was the best option for this property, given the condition and timeline to close.

At NREIG, we strive to provide clear and comprehensive communication about the coverage options available to our clients.

Others are responsible with their budget and can stretch a dollar.If they are excellent renters, I would offer them the option to renew and let them make the choice.

(Excluding FEMA insurance claims)We recently sold a home we foreclosed on in Georgia and I am pretty sure they had a specific form for disclosure of insurance claims we had to complete (my associate did all the paperwork but asked me about the form). not sure if it was fema or not.The form if there was one was optional, because Georgia is a Caveat emptor state.

I had few options so our cost doubled.  

This is an option to consider and many larger banks/credit unions and nationwide mortgage lenders have released new loan programs allowing 2nds, HELOANS and HELOCS.

In this thread, you repeatedly highlight the IRS position that a Husband-Wife LLC does NOT have an option to file as a Qualified Joint Venture (QJV) and must therefore file a partnership return.

Lots of options as far as raising nightly rates as other STRs shut down, converting to MTR or LTR or doing an exchange to another state.

@Priscilla C.Either one of those options should work for you.

Focus on strategies that align with your needs, like turnkey properties, build-to-rent options, or small multifamily buildings, especially if you prefer less hands-on management.