For $45/month, you get $5,000 in rental coverage for things like missed rent, excessive damage, excessive cleaning, pet damage, and eviction costs.

( He worked as a part-time super for a few other much larger buildings so this was welcome supplemental $$$ for him)If you manage properties in the area (say anywhere in the area loosely bordered by Sunset-Park, up to GreenPoint to Williamsburg & Bushwick, down to Lefferts/Flatbush (see red-circled area in map below) let's create a little 'union' to share a part-time roaming Super !

Even though, Actual Cash value will result in insuring a lower amount of coverage, partial losses are subject to the depreciation. 

Some might have a strong NNN tenant in place with 10+ years left on the lease, and it might be a big corporation that you can take to court if they ghost on paying their rent, while others might be office suites broken up into small offices on 6-36 month leases with shaky tenants like a nutrition supplement MLM that uses the office for 3x a week rah rah meetings on how to recruit more people into the pyramid scheme, that are immune to law suits b/c you can't squeeze juice out of a rock.

First option is to sell the house immediately and utilize those funds (~100k) to supplement the cost. 

There is also coverage for materials In-Transit & at temporary locationss as well. 

A DSCR loan, or Debt Service Coverage Ratio loan, is underwritten to the property income instead of your personal income/taxes/debts.

The eventual income from real estate will supplement our retirement and SS so we can do the things we want to do with our time.The best part is our kids will be in a much better place financially due to this and it can change our family tree forever.Funding:HELOC on CondoW2 JobsLightStreamEstimated Equity:4/18/2023 - $165k4/19/2024 - $207kEstimated Value of Assets:4/18/2023 - $232k4/19/2024 - $1MNothing wildly impressive for equity growth, but if our portfolio property values average 3% growth annually, we are getting $30k in appreciation instead of $7k.

The house has survived many hurricanes with little damage, but the insurance company said they would not renew coverage without a windstorm exclusion. 

I would supplement with some HELOC funds as long as you calculate the HELOC payment when considering the investment property.