Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

Also, can you say more about landlord vs renter’s policy on insurance ?

Even if we didn't renew the tenants when the leases were up or if they had their own renter's insurance policies, we felt it was a bit too risky.  

If you're strictly seeking off-market deals, I recommend connecting with and working with a reliable/resourceful wholesaler instead of a real estate agent.

If a person has RCV or ACV policy makes a huge difference, than question of what coverage level people had and if they had policy add-on's that cover cost over-runs and all that fun stuff, not to mention contents. 

I am aware that since I’m renting one unit out I need a landlord policy, but can my policy be HO3 or does it have to be DP1? 

I'm excited to see so many of my peers in tech, prefab construction, government policy, architecture, et al come together to try to help those who need it!

Also make sure to have owners add you to their property insurance policies, so you have liability protection. 

Assuming you don't have a mortgage that requires a certain level of insurance, you can get a stop-loss policy covering all the properties. 

.- Tenant Accountability: Many programs have strict guidelines for tenants, and breaking those rules (e.g., property damage) could jeopardize their assistance, encouraging them to be responsible.- Inspections: Some programs require annual property inspections to ensure compliance with their standards, which can occasionally be demanding.- Damage Risk: As with any tenant, there’s potential for property damage.