We had to scramble to reassess and adjust the financing terms quickly.

Using the 50% rule (taxes, insurance, Capex, maintenance, vacancies, property-management), that should give us ~19K/month in pre-tax profits that achieves our 10k/month financial goal after-tax and adjusting for inflation.Our assumption is that building new-construction would reduce capex & maintenance the first few years. 

Had I gone to the city, I would have known that the house was built without a permit, and that to be able to renovate the house I would have to appear before the board of adjustment of the city.6) Most importantly, the current New Western business model does not afford new investors time to do their due diligence on a house.

I would just talk to your adjuster… you aren’t going to ‘mess up your claim’ or piss anyone off by asking them about your specific question.  

The seller agreed to lower the purchase price and adjusting closing costs to avoid any wash.  

Prices of listings will adjust.

I thought it would be a little more intense. 

The added rate adjustments of the term and IO period usually negate the benefits (or many of them). 

Most of the time a condo/townhome won't be the right fit due to condo fees, hoa fees, etc that make it more costly for the ownership but also more management intensive.

When the adjuster finally shows up, he/she will be able to give an estimate to fix the damage and what the insurance will pay - minus the deductible.