I'm also a licensed mortgage broker with a lot of fix-and-flip programs, including some that require as little as 10% down on the purchase price, and provide 100% of the rehab funding.

When your a housing provider where good decent people want to live, well the rest just has a way of taking care of itself, it really does. 

I know that ideally, I reach out to my broker or any other reputable insurance provider to get a more accurate estimate.

Now we have to build how many millions extra?

That document they provided, with all the colored font, was a mess to wade through.

For my clients, this SCREAMS of building equity, provided the ARVs would support the rehab.

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Be extra careful with your policies and procedures in regards to Fair Housing protected classes! 

Again, this is only based on info you provided so there could be a lot more to the story for the good or bad but I can only comment on what was provided. not sure many are thinking rates are going to drop much in the next year.. seems like one would want to know how much they need to drop to see if the plan will work before putting good money after bad.

Multifamily properties provide the advantage of multiple income streams, which can help offset vacancies and reduce risk.