As mentioned above do not focus on this number, at all. 

@V.G Jason @River Sava @Lisa Jones @Ben Pileggi @Gregory Schwartz @Jay HinrichsAnother silver lining I forgot to mention - Good investing partners.Having solid partners who can share the load (financially or logistically) during disasters can make a massive difference.

It is actually just a tool to create the already mentioned accelerated depreciation.

WE dont pay a fee for the credit line as I mentioned just 1/2 point for each new loan..

It likely means you have that amount of coverage when caused by another peril and as mentioned it's typically a significantly lower limit than other coverage amounts.If a pipe bursts, it will likely be covered. 

You mentioned about the difference between the purchase interest rate and the refinance rate.

Since they are deposited directly into my bank account, I don't have to drive around picking up checks and depositing them, and waiting for them to clear.

As you mention, if you are using hard money yes you are paying more in interest and if you hvae the cash I would recommend using cash over hard money due to the high interest rate that you are paying.

It was just a waiting game going through the foreclosure process Lessons learned?

Instead of jumping on the opportunity, the rep decided to wait two days so he could bundle the appointment with another one he had nearby.