If you can cash flow, then amazing, but more likely you'll cover some or most of your expenses. 

Were you able to use that to help cover for damages to your rental home?

I am concerned about theft during and after renovation so a policy that can cover that would be of utmost importance. 

I think if you had 40k and could find deals, and then you used a hard money lender for your acquisition loans to cover purchase and rehab, you can make that capital last a long time.

This is covered under Regulation X (1024.5(b)), outlined here: https://www.consumerfinance.gov/rules-policy/regulations/102...

2) Will a new tenant even cover your costs?

And the other reason and unless you get stung on this as a buyer.. unless you can get the title company to up your title insurance if you have a title problem the money you paid to the company that is assigning the deal is not covered . and you get a title settlement it will only be for the amount of the contract purchase price not the assignment fee so large fees are a HUGE risk to the buyer.

Do I just leave it as is (of course making sure I’m covered for liability) or do I fully insure and continue applying for the loan?

I'd review of your flood insurance policy and see what's covered. 

So, from that perspective, I like the idea of "involuntary conversion provisions" to not have to deal with increased "income" in 2023 (because of the insurance payments) and huge "expenses" in 2024 (because of paying the contractors).I thought that has nothing to do with CSS, partial dispositions, having to "retire" the old assets and start tracking the depreciation of the new assets (after all, the CSS allocated 5K to the old roof covering, and we paid 18K+ for the new roof).