That is a fine approach and is more conservative.However, for my preferences, I would focus on optimizing debt for cash flow.

Her swift yet thorough approach enabled me to secure the perfect property in record time, a feat that truly highlights her commitment and skill.If you are seeking a real estate professional who goes above and beyond, exhibits a profound understanding of property values, and can effectively manage complex negotiations, I wholeheartedly recommend Tanja Vargo.

Unless you are in one of the exceptional markets with a 1 of a kind property I would recommend doing any flip that remotely approaches 70% LTV, I am seeing a lot of 60% LTV projects, those investors with make money. 

In terms of your grandfather living there as long as he's not the owner having a dwelling fire/rental property insurance policy is appropriate.As @Greg Scott pointed out he should have a renters insurance policy whether or not he's actually paying rent.In terms of liability coverage, that depends on what you have to protect so there's no one-size fits all approach.

Obviously, different people have different reasons for the way they approach their investment strategy:Personally, I prefer to use personal funds and "pay" myself the interest. 

Especially with a long-term hold approach.

Especially with a long-term hold approach.

I would approach the Village and ask for a permit to move a mobile home into the park.

It's crucial that we find a balanced approach.

I was approached by people who are interested in leasing my property long term and use it for cooperate business travel accommodation.