@Renee Weaver I buy a policy for my flips through my Farmer's Insurance agent - but it isn't a Farmer's product - "US Assure"...

Thank u Alan, it gave me some assurance.

:)Some stats:16 x 2bed, 1.5 bath unitsNOI: 70000Cap: ~10%COC return: ~12%Little about me:Currently working in Corporate America in the Tech sector but I want to build a real estate portfolio to assure my family never ends up homeless.

Its easy to think that a lease gives you some assurance you'll have a tenant for a while. 

Even though I was below the deductable, I had to show proof to them that the repairs have been made so that they can be assured I won't accumulate repairs and pile them up on the next hurricane. 

Most assuredly you will not be getting 100% on a Cash-back Refinanced Loan.

Just to let you know an additional thing you need to do is to keep some of the material used in case you have a repair later and using the same material assures you on the color whether it is still available or not.You are going to love this next statement. 

I assume this is a multi million dollar deal.the builder of course NEEDS YOUR equity to get his loan.. now the good news is if he  can get a loan means he is somewhat to fully qualified.. you can do a participation mortgage in second position calling out for an interest rate and a bonus you just put it right in the note.. or lets say your lot price is 500k.. you simply write your note for 650k plus interest.. this assure you of profit.I would not do this though if you have no means to step in and complete or cash out the first.. nothing is worse than taking over a build project from a builder that failed mid stream

What you have suggested in the OP sounds good, but rest assured if there is an incident, the victim will sue the "deep pockets" landlord before the "blood from a stone" tenant. 

The owners of the other adjacent home have been on an extended vacation (and have left their air conditioning set to 85 Fahrenheit).A few weeks ago, my tenants called me saying that their AC can't maintain setpoint--I assured them that this is normal as both demising walls are currently exposed to elevated temperatures.