I live down in Texas in Dallas County and I am 60 years old and I found BP because I was still medically recovering from a brain annuerism and a stroke looking for something that is flexible, otherwise I would still be working in my own flooring company and would never have found BP.  

The benefits to having leverage include tax avoidance, liability protection (tenants tend not to sue leveraged properties since there'd be much less to recover), great ROI due to lower cash invested, etc.  

My understanding would be that if the borrower was no longer able to make their payments, that RS/me would be the first in line to recover from a sale of that property.  

Who is going to hire an attorney to recover their $50k investment in a $500k deal?  

I painted the exterior New year day while others were recovering from partying.

I still have it and it has about recovered and the tenant has paid down the mortgage a bit so i can live with it.  

Just recovering from over three years serious illness [OK one excuse] no-W2's no cash just non taxable SS income.READY TO WORK!

—If either the landlord or the tenant fails to comply with the requirements of the rental agreement or this part, the aggrieved party may recover the damages caused by the noncompliance.I am not a lawyer , but sounds to me the part that says "requirements of the rental agreement"  means you put in your lease that renters insurance is required . 

My understanding is a flip should take in total a few month so I'm assuming the HML lender can recover their principle plus interest and points after 3-4 months.

@Jim Brozny Of course its your policy and you can do as you please, However the Insurance company will only pay what the contractor charges and unless the contractor sends in a false invoice for RCV then the full xactimate amount will not be able to be recovered.