Take that and multiply it by every part of a property that can be damaged and you see why the insurance companies are losing so much money.To put it in perspective if the mortgage industry was losing money like this no one would be able to get a mortgage - period end of story.

As a broker, that shops many lenders I look for reputation, communication, and the assurance, that whatever I push in will close. 

Hey Eli, hope you've been able to find a reputable company, but I can PM some suggestions over as well if you still need some.

There is substantial damage to the electric inlet and panel.

The company has already agreed to cover the lost rent as well as fix the damage but they are “conducting their investigation” so no actions have been taken to correct the issue yet. 

The structure could be damaged or even destroyed during that time.

Can I ask what kind of damage was done that left 5k in repairs??

There are many benefits with section 8 in order for the tenant to be placed in one of my properties they go through a process with the committee then when living in the property they need to abide by lease rules and keep the property in shape, if major damage is made or neglect to the property by the tenant they may losE their voucher from section 8, so it’s a very good idea to go this route and food for thought you always know your property is up to date safety wise and livable with annually inspections. 

YES, you will miss something and have unexpected expenses, OR you will have a bad tenant experience with damages you are not able to recover from them.

Where did you make connections to reputable, affordable contractors?