What is the monthly cash burn, including reserves to purchase replacement rate caps?

Always stick your neck out for the good tenants and replace the bad ones as soon as you can.

Some background:I got into REI to earn enough income from rentals to replace my W2.

Also is there a plan to replace the HML after a particular point?

All water, sewer, and electrical infrastructure is being replaced.

A water heater replacement is $1500, AC Unit $8,00011.

If a storm happens immediately after you replace the roof, the actual cash value is the same as replacement cost, so you've lost nothing.The only thing you would have to worry about are items you did not intend to repair

I need to redo the roof of the house lift up the second floor, the entire front deck of the house, demolish the old stucco, And replaced a lot of rotten wood and messed up beams.does anyone have any recommendations? 

.- Phase 2 (April 1, 2022)Applied to all remaining existing policies, transitioning them to the Risk Rating 2.0 methodology upon renewal.The new system replaced the decades-old approach to calculating flood insurance premiums, aiming to provide fairer and more accurate rates based on individual property risk.Before Risk Rating 2.0, flood insurance premiums were mainly based on whether a property was inside or outside a designated flood zone and its elevation on a map. 

A light bulb replacement, for instance, might be the responsibility of the tenant.