Rufo, so you are violating the HOA rules so I don't think they would cover anything if it is the fault of your guests.This will eventually catch up with you and could result in some big fines so maybe think of selling this or converting to a LTR instead.

The HML covered 100% of the $32,500 rehab budget through drawbacks.Refinance: Post-rehab, I refinanced into a primary mortgage, creating 25.5% equity in the property.Future Financing: I plan to leverage the property with a HELOC to access up to $86,000 in capital for future deals.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Umbrella Policies are good, but they are not an asset protection tool, they only cover litigation/damages after you’re already in litigation or found personally liable.

My goal is to live in the home during the winters, maybe 3-4 additional weeks for vacation, then rent it out to help cover the mortgage the rest of the year.  

For now, it Looks like your roommate/tenant can cover half of your mortgage (plus hoa fees). 

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

It doesn't cover any loss of income due to your rental being repaired.

.🔹 Insurance Challenges – Even when insurance pays, it rarely covers the actual cost to completely rebuild.

What I mean is, some investors look strictly at cash on cash return, some look at cap rate, others just want to make sure their mortgage is covered.