If you can purchase this home with private money or seller financing and get a $110k loan, then you could do a rate/term refi right after so do a 90 or 120 day note to secure the property and get it in your name, then refi into long term debt using the full appraised value. 

Hi, my rental home got leak from shower and damaged shower floor. shower is fixed without of pocket. 

Quote from @Ryan Duphorn: I'm currently house hacking a single family home that has a 572 sqft detached garage in the backyard.

I leveraged my owned land to build my personal home.

I would never count on any insurance policy covering a broken item in the home.

I currently have sold a few residential homes in my time as a realtor, but I'm more-so looking to become an active real estate investor and agent.

I suggest that you make it a point of finding a good lender, not just someone who can do the job of helping your clients buy their home but someone who is willing to teach you.

Nomad guarantees rent at the amount the owner rents their home for.

That is all we use it for.Negatives are we still use home made Excel spreadsheets for business expense management. 

Quote from @Nicholas Dillon: Hello All,I have around $200k in equity in my primary home.