Ordinary homeowners insurance covers that, as well as damage caused when rain gets into the house from the wind damage.  

Since we have the stainless appliances, the porcelain wood grain tile floors, the granite, and so on, and brand new privacy fences and newly installed patios with pavers, we think our units are comparable to the high end apartments, but without the community facilities those come with.

The owners split the house in two while enclosing the garage to create a 3/1 and 2/1, in addition they enclosed a back patio area to make an efficiency studio area 1/1 no kitchen. 

I've met the neighbors and they've been very helpful, especially the owner on one side who has fixed and painted a high wall that looks out on my rear patio.

I live in CO so there's not much we can do but make arrangements to have all of the patio furniture brought in from the balconies. 

The basement level had a 3/4 bath, a family room with big windows and sliders to a patio, and a laundry room that could easily have been converted to a kitchen.    

And one of my friends had a realtor cancel her open house because the day before he was at a house he had just purchased and his two year old squeezed between the burglar bars on an open patio door, fell in the pool and drowned before anyone noticed.

I assume we will just treat this as ordinary income for the company and split it according to our by laws at the end of the year with our individual K-1s.My questions is , does this sound accurate?

When you take early distribution from an IRA you will have to pay penalties and the amount you take will be considered income so you will have to pay ordinary income tax on it.Roth contributions can come out tax-free, but the earnings will be taxed and penalized also.https://www.irs.gov/newsroom/what-if-i-withdraw-mo...

Lets say the subject has a patio and comp does not or if subject is 10 years newer.