Here in the USA you need what's called a "construction loan" and it's also very hard to find a company that will insure you if you're a newbie.

Thimble does not insure short term rentals.  

My payment with insurance & taxes is $1425 a month.

Financing might be a challenge.I would recommend consulting with a attorney, loan officer, and CPA to discuss your specific situation and determine the best course of action. 

Not sure if they have upgraded to desktop appraisals but if they are still doing in person appraisals , make sure you get everything (scope of work, good faith deposit, social, LLC docs, insurance, proof of prior experience, financial statements) in ASAP.

I appreciate it.Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim.

We are trying to think of all our options for a rehab loan.

Our avg monthly expenses with reserves is around $1500 (mortgage, taxes, insurance, utilities, reserves ect).  

Make sure to factor in insurance (slight change as rental), property tax (in our market is 2x a primary res), vacancy (3-5% in most markets), capex (old roof?)

Instead of a 1 to 1 ratio, the required ratio can be 1 to 1.2 or 1 to 1.25.More on DSCR loans: DSCR loans won't use your income to underwrite the loan.