The downside will be I will not be able to pull initial investment out for five years and my IRA deposit will not lower my AGI (if I am over income limits).Any additional input?

What are the best coverages and limits to have in insurance policies to cover edge case scenarios like these Insurance Policy with water, mold, vandalism, pest etc. 

DSCR loans are great, but it's a misconception to think they will not count against their max limit of properties financed for conventional financing.

Would I vote for policies that I think hurt tenants and limit housing supply? 

Is there a limit on how much each rent increase can be?

An approach you might want to take, is to break down each component of the rehab into its own price per sqft/linear foot/units for both materials and for labor.for example you might find that flooring costs and average of $3.50/sqft labor to install + $3.00/sqft for materials X square feet = cost to refloor+ always add an extra 10% for unforseensSo you would just need to do this for every part of the rehab based on what needs to be done and what level of finish you are going for.keep in mind that some things are measured by sqft, like floor, and others are measured by linear foot, like trim, and some are measured by total area, like drywall and paint, and yet others are measured per each like tubs and toilets.A good place to start with figuring costs is The Book On Estimating Rehab Costs by J.

I will just not have a clear title to resell, also read there is a 4 year statute of limitations on utility bills so they cant make me pay dates back to 2006. 

I am currently house hacking and renting my basement through my LLC.  My personal net worth is north of $1M.  Do I need additional projections and insurance to protect my assests or will I be covered by my LLC.  If so...

@Travis DumontThe Fannie Mae owner-occupied program allows individuals to use the program multiple times, but with certain limitations.

So passive losses are only allowed to be used to offset other passive income unless you are a real estate professional or your AGI is under the $150,000 limit to use the passive losses against your other income (provided you have active rentals).