We also recently got notice from our home Insurance that they are cancelling our policy because of exposed wires discovered by their inspector.

Don't depend on Aircover.Homeowners policy will not protect you if your renting as a STR.You need the correct STR policy to protect your property.

That's the strategy I have been aiming towards.

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

Our main carrier policy converts to vacant dwelling policy at completion for duration of term and can be renewed on case by case basis if unfinished or unsold.  

That will cost us about $4.8K out of pocket (our insurance deductible under our Rental Dwelling policy). 

You might have other options to explore to drum up liquidity (HELOC, Margin Loan, Policy Loan, etc) that can supplement your HYSA in the DP.

U should revist your refund policy it really reeks of get the money and never refund any money because of your arb clause and venue clause you guys know what your doing..

Until you have $1 million or more in equity and really understand how to use an LLC, I recommend you just buy an umbrella insurance policy for $1 million.

Cities and states have enforced this policy for well over 50 years and it always stood up in court.