@Isaac Hanai make sure you FULLY understand the negatives of S8 programs, not just the mirage of consistent government rent payments.

And of course, if your actual cash value is less than the current mortgage(s) on the property, all of the cash value payment will go to the lenders. 

If it doesn't, can you still make the payments?  

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Some special assessments are already board-approved for 2025 and 2026 to help raise capital for such items, however I know when the time comes there will be a loan which likely demands a higher monthly payment for owners -- reducing my cashflow. - Based on sale of other units in the complex, I believe my current equity to be roughly $160,000, a little more than 50% equity. - The condo is currently leased through April 30, 2025. - August 2025 will be 3 years since I moved out.

Let the cable company chase the tenant for payment of that service.Yes, require renters insurance. 

Use some for a down payment on your next home.

You have to weigh the benefit of the insurance claim payment versus potentially having your carrier cancel you and perhaps get black-balled by the insurance industry.

Quote from @Brad Roche: The other thing that is great for the FHA 203K loan (not sure about the Homestyle loan) is that you can kick the payments out to 6 months of ownership (so close today and make your first payment July 12th 2025) if you are fixing up the home.

I assumed you'd use HELOC for down payment + another loan for the rest. that is 100% financed.