They must be very low odds because insurance companies are in the business of making money, not paying out maximums.

I kept the rent low because the tenant was there for a long time. 

Avoid surfaces that can stain or feel cheap like low end LVP.

Rates that low don't make sense especially if they're a no doc shop.

I've seen some as low as 6k and as much as 14k annually.

Rates are high, usually in the high 8s or low 9s, and you may pay 2-4 points on the loan. 

My clients who invest in Section 8 housing do so in 'not quite' transitioned communities but that have low crime rates.

Install low profile LED lights or wall sconces.If this is an investment property you need to be thinking about returns.

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

I feel this gives me the flexibility to find the right solution for my client and not just sell what my bank offers.I'll also throw in my 2 cents on common differences I've seen in my career:CDFIs - Because of their subsidized financing structure, they have the ability to be a low cost lender (and sometimes provide grants).