I lived in the house with my siblings (who pay me enough rent to cover the mortgage) for 3 years, until 3 months ago when I moved to Phoenix.

If it is attached to the privately owned property it could be covered very easily and in some cases the coverage would be included in a standard homeowners policy.  

Every investor is different on what they want covered, so really you just need a good agent who will discuss the coverages with you when you set up the policy. 

@Tony Thomas no advantages that come even close to covering all the expenses and paperwork headaches!

@Tony Thomas no advantages that come even close to covering all the expenses and paperwork headaches!

The great thing is, if one unit is vacant, you’ve still got others to help cover the mortgage.

Keeping good relationships with lenders in your buying niches can help you have yourself covered without wasting a ton of time! 

Also, you may be required to pay homeowner’s insurance and prorated property taxes for the remaining year.Inspection/appraisalLike buying residential properties, investment properties are subject to inspections and appraisals.

Yes, there are things insurance won't cover, but there is ALWAYS risks with investing.Here's some copy & paste advice you may find interesting, hope it helps!

Hello all, I'm curious how much the HUD will actually pay compared to the 40th percentile rents posted on their site.I'm aware of the different amounts each tenant will cover in terms of their portion of the rent, but I'm not sure if the HUD will actually agree to my rent price.I've been taking the stated FMR for the bedroom count, and taking 20% off the number stated (to be conservative as to what the HUD will accept).