I find it's very personal, and dependent a lot on your goals, resources, risk tolerance, location, experience, etc.

I might let someone live there for free if they agree to mess with all of the event stuff?

Feel free to reach out and we can schedule a call.

As mentioned, we "openly and notoriously" record the deed for the world to see so there is no hiding things from the bank (which could be construed as fraud not to mention poses many other risks for creditor liens, etc.) 

@Allen Masry you stated you want to invest passively, so real estate is out, except for REITs, which are part of the stock market.You might be tempted to invest in a syndication, but those are high risk and you really need to research and then monitor them.

If you need a lender for that, feel free to shoot me a DM.TYFYS and best of luck!

This community is full of experienced investors ready to share advice, so feel free to ask questions as you go!

YOU need to understand that you are ASSUMING a lot of RISK managing your property as you are (room by room).  

Calgary is gorgeous, I try to get out there as much as possible when I'm free.

I understand why carriers associate Condo/PUD construction with greater liability risk (I am sure being based in Philadelphia, a jury friendly city doesn't help either) but curious which carriers others are finding to price coverage without this exclusion and also price the coverage competitively.This also serves as a reminder to review the coverage when you hire a GC for more substantial or unique construction assignments.