Most states allow you to hire your own adjustor to come up with your own damage amount and then argue with the insurance company about.The insurance company will want to see the signed lease, proof of funds the tenant paid and confirmation the utilities were on and preferably in the tenant's name.

Do you currently have enough funds to pay first month’s rent and a security deposit?

Federal programs will require you to use GC/licensed folks for a lot of the work and they will get reimbursed by the institution that your loan is with; many GCs don't want to wait on the float time of requesting funds and getting them.Depending on the program and rehab/condition of the home, you may not be required to live in the home (think black mold remediation...bank isn't going to put you in a compromised position) however they may have min/max of when you need to move in.

If you're capable of getting funding from a bank, those terms are terrible.

Now your fully renovated home is getting top dollar rents, you could probably refinance too since rates are poised to go lower (lowering your monthly obligation), you could open a HELOC before you move with the extra equity and use that to fund your next deal and now you have 2 homes! 

My two least desirable properties the appraiser appraised them out the roof so my refi cash out was really good.

Use the HELOC funds for another investment strategy such as funding fix and flip projects.

Another question that I haven't yet heard the answer to: Do local governments ever run out of HCV funds? 

When you have the funds available and you find a deal that works, that is the right time.With the new investors that I work with the biggest step is saying yes when you are ready.  

Another 74k in index funds and 10k cash.