Our insurance company (State Farm) doesn't cover flood, so our flood insurance policy is through FEMA's NFIP (national flood insurance program).

If she's currently on Medicare but is trying to qualify for Medicaid, in some states the home can be kept if there's an intention to return (thus the allowable "caretaker"), but it will be subject to asset recovery upon their death, making it hard for the family to keep the home. 

If you have your current needs covered and are investing for the long future, i.e. retirement - then Roth IRA is absolutely the way to go.

I use one unit as my primary residence and have been using the other unit as a mid-term rental (~1-3 month stays) to cover the majority of my mortgage.

We have a fee for this in the lease but how do you cover for this in the lease ?

It's likely coming.That just about covers it. 

I'd minimize the risk of having negative cash flow in the first 12 months when things are the most unknown and I'd be able to increase the gross rent of the property which should give me a better loan or at least bigger margins to cover my risk for negative cash flow. 

We will cover the story in detail, with regular updates, through to resolution. 

I asked detailed questions on his other post he did a double post on this subject

Comprehensive CoverageBasic Coverage: Covers specific risks like fire, theft, and certain weather damage.