My husband and I are Teachers and Nurses but dream of supplementing our W2 jobs with passive/investment income. 

The builder’s risk insurance can also provide coverage for lost rental income or loss because of business interruption.

Yes, my banks require a 1.2 DSCR debt service coverage ratio, meaning they want to see rent 20% higher than the mortgage payment.

HOAsThere are many HOAs that do not have wind coverage.

Without this, it’s tough to calculate a realistic cash-on-cash return or DSCR (Debt Service Coverage Ratio).Condition of the Property: Are there any deferred maintenance or capital expenditures needed in the short term?

These do require more time and organization though.Looking forward, after 5+ years of owning a property, assuming you bought in an appreciating area, you should have enough equity built up via tenants paying down your mortgage for you and appreciation to refinance out of the VA loan (if you haven't already) or even cashout to buy more or to supplement your earnings.Theoretically, if you have enough properties you could refinance at least one a year.

Florida did just have back to back hurricanes but a proper master insurance policy and coverage usually covers that type or perilYou are facing a declining cash flow situation which is due to the HOA fee's so while there is still a profit and you have equity sell and look for a 2-4 units.

The policy shows coverage. 3.

I suspect in most mortgages the Borrower entering into this type of agreement without the written consent of the prior lender would be a default.What debt coverage ratio do you think would be fair considering the risk? 

They were willing to lend up to 80% LTV and wanted to see a debt coverage ratio of 1.27 on all loans used to purchase the property.