Typically, conventional loans backed by Fannie Mae or Freddie Mac are eligible, while government-backed loans like FHA or VA loans often are not.

I highly recommend finding a broker and have them find a policy that meets your specific requirements.

Almost all mortgage loans these days have Due on Sale clauses, so it comes down to A) whether they find out (usually from changes in the insurance policy), and B) whether they choose to call the loan.

It might have been bound but many insurance companies have put those new policies on hold if the purchase has not happened due to the disaster and letting the mortgagee(lender) know that the policy is on hold.

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

I understand my error in not having a written cancellation policy and I will make sure to have one in the future.Thank you in advance! 

Instead, an umbrella insurance policy may be a more cost-effective alternative for now.

No guarantee this will continue but I see elected officials making policy mistakes that will lead to less development and that makes me believe constrained supply will continue to drive above average appreciation.John

I know that Airbnb keeps getting greedier and greedier, but this is in violation of our cancellation policy.  

With a milder climate, lack of natural disaster, good economic opportunities, and decent governance, NC has a bright future.