You already seemed to conclude you are forcing this deal, I would agree unless there's a reason why this property will appreciate significantly in the near future and the 40 year amortization schedule allows you to hold on for that to occur. 

Now the situation has occurred that we need to rent the house out in order to help pay for his long term care expenses. 

I guess one should always consider that the rate is always based on FULL loss and FULL replacement, so I guess there's no harm in asking, though your results may not be as advantageous as a layman might consider.Thanks all for your input. 

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If you give contractors a prize for finishing early on time, they will finish then to get the prize, but there is plenty that can be left undone without you knowing that will harm you later.

What about refinancing  costs or what ever costs that occurs at the end of the loan term?

Any issues that occur with the property can easily be solved with the property manager working nearby. 

If rent payments are missed or damages occur, this gives you legal recourse against any or all tenants.Best Practices:Professional property managers, like those managing rentals across North Texas, always screen every adult living in the home.

For instance, there is a Lunch and Learn meeting the first Thursday of the month with the next one occurring Feb 6.

If the foundation is good, the roof is good, the floors are good, the layout is good, you are probably saving at least $100k right there in labor/materials.The other thing that frequents adds a lot of cost is when the unknown occurs.