You are talking somewhere around 5-6 points depending on how much you put down on the purchase.

They're somewhat picky, kinda depends on which inspector you get and what mood they're in.

So depending on when you're looking to use the funds a fixed might make more sense. 

It just depends on how much you pay to get that rate.

@Natasha Rooney rates will also be different depending on if you have Credit or not.

I've seen insurance premiums for flood go up to 5-6k on a regular single family home depending on the area. 

If you did not and it’s unsecured debt you could be out of luck on some or all of the money as depending on his situation unsecured creditors in a bk may receive pennies on the dollar depending on what he can afford and if converted to a ch 7 you would get wiped out.Even in 2nd position he could argue the property is underwater and wipe out your lien.

I hadn't planned on using Airbnb or VRBO, but I suppose this could change depending on my progress using Furnished Finder.

Depends on your long term goals, risk tolerance, experience and market. 

Quote from @Clarissa Finks:This all depends on what you need it for really..