Worst case, pick up the phone, if it costs you $50-100 for legal advice, wouldnt it be worth it to save potential $1000's. 

We have been doing this constantly in Boise as we are such a high appreication market, but still more cost effective than CA.

It helps absorb the cost of your payment and gives you a better understanding of how REI actually works.

Research state-specific costs and regulations to decide what’s most cost-effective.3. 

Not the best scenario but installing new systems can mount cost quickly. 

You should think through how much this will cost with architectural drawings, a good GC, etc.

How much does something like that cost over there?

So I would caution everyone to make sure the replacement cost for your improvements will realistically cover your actual replacement cost in the event of a total loss.

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

Again, it depends on the borrower's priorities (time / energy / fees / opportunity cost of finding new deals / etc)4.