Valves, supply lines, misc parts, unforeseen items.

•Do you have a safety net to weather potential slowdowns or unforeseen issues if you choose to BRRRR?

We will never have the right answer; everything depends on your circumstances.

I generally believe insurance is not worth the value in most circumstances (otherwise those companies wouldn’t make money), but I am a big believer in umbrellas.

But it’s unclear if this applies to HomeStyle loans specifically, given the initial renovation appraisal already accounted for these improvements.I want to know if anyone here has been successful in getting PMI removed under similar circumstances or has any insights into the specifics of Fannie Mae’s policies for HomeStyle Renovation loans.

While the circumstances may seem entertaining, the reality is this is not a laughing matter.

People have different circumstances but I just like the premise of another great book, Think and Grow Rich, it takes lots of failures and successes and persistence to get to where you are. 

Both loan servicing companies and insurance companies can be such a nightmare to work with even under normal circumstances.

My point is define Relatively what circumstances are you inferring?  

The mortgage payment is already high and my life circumstances have changed, making the payment even more of a stretch (not impossible, but definitely above the recommended percentage of take home pay).I am considering selling the first property next year (which has about $200K in equity) to do a mortgage recast on the primary and get my payment to something more reasonable.