It might have been bound but many insurance companies have put those new policies on hold if the purchase has not happened due to the disaster and letting the mortgagee(lender) know that the policy is on hold.

We have been around the bigger pockets community for over a decade now and have more 5 star reviews on bigger pockets than any company on this website in any industry (>270  5 Star reviews).

Grocapitus had an ephipany about industry standards? 

Just my $0.02 working in the industry.

While these loans make it easier to buy a property, they come with challenges:- **PMI Can Be Costly:** With less than 20% down, you’ll likely pay $150-$300/month in private mortgage insurance.- **Interest Rates Can Affect Refinancing Plans:** If rates increase, refinancing to remove PMI or lower payments may not be an option.- **Scaling Can Be Tricky:** FHA loans are typically for primary residences, meaning you’ll need to strategize if you plan to purchase additional properties.Thinking through financing options and backup plans before you buy is essential.### 5.

@David Cherkowsky, the lender will take the full rental income reported on the tax return, for that property, subtract it from the total expenses, add back depreciation, property taxes, mortgage interest, home insurance, HOA(if applicable), sometimes repair expenses(must be documented), divide it by the total amount of months the property was in service for that year (THIS NUMBER IS ON YOUR TAX RETURNS, SO MAKE SURE YOUR ACCOUNTANT DOES NOT PUT 12 MONTHS), and subtracts it against your total monthly mortgage payment.

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.

@Kwanza P.Here you can learn more about non-recourse loans:https://www.biggerpockets.com/member-blogs/2810/46115-real-e...Here is a list of lenders offering non-recourse financing to Solo 401k:https://www.biggerpockets.com/member-blogs/2810/50272-list-o...You protect your property by purchasing insurance. 

They also like to acquire MHP with higher vacancy/ vacant pads (not sure what the industry standard is).

Right now, I'm working with a team that helps find off market properties for investors which has been a great way to dive in and connect with experience professionals in the industry.