This is a new home and the builders in our area need to be competitive so closing costs were covered by the seller as well. 

@Andrew PostellI have a few questions regarding this that I have not seen covered yet in the thread:1. 

But if you persist, then I would make sure that you have this covered legally - contact an Attorney first!

Do a Google search for "Boommates" and you'll find references to the Golden Girls TV show and discussions about two significant issues older people face: the high cost of housing and loneliness.For younger people, we call this "house hacking," where someone buys a house and takes in roommates to help cover the costs.

Make sure they’re licensed and insured, just to cover yourself.Going with veterans or contractors from diverse backgrounds usually works out well since they often bring a good work ethic.

That would cover most except the warehouse rental and miscellaneous overhead costs.  

My insurance company screwed up in insuring the property and are trying to cover it with their E&O policy.

Temporary buydowns are best for when the seller is covering all of your closing costs already and you want to use additional funds from the seller. 

Any company insuring your properties without an inspection most likely has a clause buried deep in their policy allowing them to deny claims for conditions found on the property that do not meet their UW standards and they will deny you claim based on "the house should have not been insured with them anyway".Although the inspections can be annoying look at it from the other side.You pay them 1000 to 3000 a year to insure a rental property where they agree to pay out possibly hundreds of thousands of dollars if it burns down or up to 1 million if a tenant slips on a bananna peel and falls down the steps or the tenants dog bites someone and since you didn't enforce the tenant having their own renters policy to cover the dog bite the landlord's policy is paying out.The insurance company is very much like your rich uncle backing your business venture - you run the business, he takes on the financial risk from disasters, and doesn't even get a say in who lives in the property.Your rich uncle asking you to fix the steps, put up a handrail, etc which is in your and his best interest long term.Do you really want to rent out a property with a busted front step and a bad roof that is going to leak sooner than later?

That vid covered all the problems I think they have.