The house has appraised for $335k, my hard money note is for $242k, and I'm looking at only about $15k out once closing costs, taxes, and insurance are accounted for.

Steadily is an MGA and they also act as an insurance agency.  

Remember with FHA your MIP (mortgage insurance) never goes away for the life of the loan. 

@Suzy FarmanHere’s what’s worked for me:Leverage Airbnb/VRBO: Many insurance companies use these platforms via third-party services.

Vacancy rate, insurances taxes, interest rate, repairs and maintenance.

I live in the Washington DC area..the HOA/condo fees are pretty reasonable and the insurance doesn’t have the embedded risk as Florida (I don’t believe)

The podcast also talked about insurance claim re-housing where families lose their homes to a tragedy and get replaced through their insurance.

SW MN is hard to find Landlord Insurance, all local insurance companies say thy quote you landlord insurance, but they realy quote you general home owners insurance.

A PMC is like insurance - how long would you choose for your family to live without medical insurance?

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.