Short term I’d like to do a few more deals on the side to supplement my income. 

For the last 1/2 year I have been full time on the real estate and working part time as supplemental income.

Namely LTC/LTV & debt coverage ratio.

Most insurance companies now offer some kind of STR coverage.

Quote from @Tanner Sortilloer Sortillo: Quote from @Greg Kasmer: Tanner - My current strategy is to buy small/mid-size multifamily, so I would use the additional $100k to supplement a purchase of a 5-20 unit property!

The best approach is for the HOA to review their insurance policies to see if they have this coverage.

We are using a Debt service coverage ratio (DSCR) loan.Lessons learned?

For this deal, my mother and I secured financing through a Debt Service Coverage Ratio (DSCR) loan, which allowed us to borrow based on the rental income potential of the property.

You’ll also need owner and lender's title insurance as well as the standard fire and liability coverage, which I assume you already buy.

Unlike DSCR (Debt Service Coverage Ratio) loans for smaller multifamily (i.e. duplexes, fourplexes, etc.) that allow market rents (not actual rents) to help determine if the property covers the mortgage payment, commercial loans look at what is happening today.