We've chosen to put spray foam insulation, also known as Icynene in both the roof deck and walls to help combat the high electric bills that our Central Texas summers in Austin like to cause!

--------------------------------------------------------------------------------------------------Please note, I hope none of my responses came off as combative.

To combat that risk its a good idea to make sure your homeowner's policy has a high amount of liability protection. 

I would apply to both for the very reason that you just never know when a bank is going to say no - especially given that you're both self-employed which usually means that your reportable income is not your actual income due to all the deductions most self employed people get to take.A portfolio loan is one way to combat the issue though.

I will tell you (a combat veteran) what has gotten me out of my ruts and difficult times. 

First off I call units where doors & walls destroyed mortal combat units.We purchased a property where the tenant in one of the units shot the whole place up with a bb gun.

The biggest thing I am having a problem with is her combative nature on the phone.

For myself, I'm going to look for sharecroppers among military veterans, through a local "veteran farmer's" program that supports returning combat veterans to transition into civilian life with a smooth fit.

And my banker said:  well you just bought 6 Tamahawks and your helping combat terrorists.. and I thought I was just helping section 8 with 5 or 6 families a year  LOL  anyone else get the big tax bill and had to suck up the big payment?

The best way to combat these is to have such high "cash flow," on the PFS that you can debt service the property you're looking to buy even despite worst case scenarios.