My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs.

With the situation you're going through, your first thought was likely "I'll raise the rents to cover this." 

You will need to cover perc tests if needed for each lot and then hire a surveyor to draft the ANR plan for submission to the town, just treat wetlands as sacred Indian burial ground - stay away from them and your costs will be very low.  

The projected rental income wouldn't cover the mortgage and HOA at this time.

Since you only have 2 full time and two part time staff, who covers their vacations and sick time?   

The part of the home you live in can be covered under an HO3 (homeowner’s) policy, but the rented unit needs to be covered by a landlord or dwelling policy like a DP1 or DP2.

I think #2 covers 90% of the work, BUT there are people whose debts are out of line with their income.

If their policy ever lapses or is canceled, they are automatically enrolled in my master policy and covered. 

.- The bathroom flooring was covered in mold and needed to be replaced.- The kitchen sink was unsecured and fell into the kitchen cabinet.- My insurance was cancelled until I fixed roof issues.- Debris littered the recently occupied unit, the basement, and all over the back yard.As mentioned, we had an initial video walk through before the contract to purchase.

Only trick to this would be if you do not own your current primary residence and you do not have a current housing payment, then no rental income from either the upcoming subject property or investment property can be utilized towards qualifying.