We added value by repainting interior, new floors, new roof, resurfaced the pool, added a fence for privacy, upgraded the landscaping, sealed and painted the exterior, added central A/C with new unit, upgraded the irrigation system, added gutters, added security cameras, added hurricane proof front and rear doors.

If the fire was from the electrical/wiring then is the insurance company ONLY paying for the one unit to get upgraded electrically?

In a solid market, with a high quality SFR, you can either flip as-is to another investor, or at the other end, upgrade to flip status and retail to an end buyer.At the end of the day, all investors have a short term and long term approach to their model.  

It is the equivalent of crashing your car then trying to buy insurance to fix the car after the fact.A home warranty or homeowners insurance policy will not pay for mold because mold is a maintenance issue.You didn't say what is wrong with the garage - if it's a broken door opener that is typically covered on a home warranty.My experience is mixed with home warranties and I can 100% tell you your satisfaction comes down to the local trade person that shows up.The home warranty company does not employ trades - they contract them locally at a fixed rate for the work performed sort of like how car mechanics are paid. 

Was able to maximize the rental income on it through the upgrades and then I did a Cash-out Refinance DSCR to keep the property and it cash flows.

I wouldn’t think the warranty would cover existing electrical or sewage issues or pay to fix an existing broken AC.I’ve never tried a seal on a roof.

@Brian Burke Both of these properties have management issues, starting out 18 months ago occupancy was in mid 80's at takeover, but the economic vacancy was high a lot of delinquency, courts backed up and they couldn't evict fast enough, meanwhile they did most of the Capex but weren't able to fill all the upgraded units quickly, they changed management companies and things were getting better but not fast enough, and yes it has bridge debt with no rate cap, and the amount of the capital is to be able and hold on till they hit 90% occupancy and will be able to refinance.Lessons I'm learning, Due diligence is walking every unit, looking at every lease and checking if money from leases are actually going into the bank.

Regular maintenance, upgrades, and amenities improvements can help retain tenants and attract new ones.

Hey Adam, goodluck on taking a new job and making the big move and upgrade living here in the Tampa/St pete area! 

Never rush a move in.Dont go cheap on repairs and upgrades!