Others are also struggling to secure a carrier or are being forced to pay exorbitant premiums just to have their applications reviewed.

From what I can tell, the extra equity on the house could be utilized to provide better ROI.  

Once you’ve built capital, transition to small multifamily units using DSCR loans for steady cash flow.If you need help analyzing deals or securing funding, let me know.

These methods involve securing financing, identifying suitable properties, and overseeing renovations.

Could any of you guide me on what I should do initially to secure financing?

Imagine luxury homes, dream holidays, and financial security.

So that the tenant rent is providing a larger amount of return of capital. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

How difficult or easy has it been to get tenants secured in that area?

Nothing you mention is "ordinary" and you should charge for all of it. dodged a bullet there thats a very good price take it from the security deposit and call yourself lucky.