If your spouse qualifies for the Real Estate Professional status, then it will cover both of you.

Close on the property- Purchase a Home Owners Warranty to cover the HVAC. 

My business partner and I paid them $12,750 right after the roof was done, and this was for the total roof replacement plus half of the rest of the project.

Tacky.Your power outlets and switch don't have covers in the pics.

Insurance can be an issue as you would technically have to get it in the LLC's name and then you can have a personal umbrella to cover any overages. 

Just be sure to carefully consider the financing costs and make sure your STR income can comfortably cover them.

I guess the purpose for this is to help fund community improvements and maintenance though it's a bit unusual since HOA fees and property taxes typically cover these.

This is where you find issues with the roof, not on the outside.

Quote from @Eric Prescott: Yes, I understand that appreciation often means less cash flow and good cash flow typically means weaker appreciation, but there is a sweet spot where there is decent appreciation and sufficient cash flow to cover expenses so that the property pays for itself, and that is what I'm honing in on. 

Is there any way to get PennyMac to lower the payoff amount, at least to just the principal amount, enough to cover the partial claim, satisfy the mortgage lender and be able to afford to relocate my family (I only need $7,000 to $10,000 to get a vehicle/uhual and move my family, and that includes the new place)?