All of the sudden, then a roof replacement cost went from example $5K to $8K - $10K after a hurricane.

Doesn't need a roof or HVAC or anything big ticket for years.  

Thus I think a flat rate approach is better. 

I’m spooked because a house hacking friend called to ask his HOI company this same question before he started renting out rooms, and they just flat out dropped him.

Use an inspector to perform a building inspection that checks all of the components of the home including the electric, plumbing, foundation, windows, roof, hvac, water heater and other appliances.6.

If I don't use those contingency funds for the roof work, I'll need to fork over an additional $5K in cash.

Most of us are not deserving but still not all of us are lazy, and we really want to step up in the warm light of direction to support our families in this cold land...it starts with a roof.

Late fees are flat fee charges while the 10% will be against any unpaid rental amounts.It appears that the actual unpaid rent has been satisfied now, this is why those funds collected were applied to the late fees next.

It also has a large flat upper roof area, although not sure if it could be used for something or not. 

.- $500 - $1,000 flat rate breakup fee, payable only in year 1.This very simple, but higher headline, fee structure better aligns incentives.