Take the toilet out without damaging it, put a sanitary cover over waste hole, put toilet on shower floor.

I've argued for this and the powers-that-be do have a good argument that they are still active just in other ways, how to cover labor and actions during that, etc..

Yes you have insurance, but it may not cover everything.

My business partner provided the upfront cash for the down payment, and we used hard money to cover the remainder and the rehab costs.

If their policy ever lapses or is canceled, they are automatically enrolled in my master policy and covered. 

I’d suggest exploring a bridge loan that covers a portion of the purchase price along with 100% of the renovation costs.

I think #2 covers 90% of the work, BUT there are people whose debts are out of line with their income.

Cover your bases for starts and then get legal advice. 

First, most investors and owners of real estate related businesses are in one or more of the following situations1- they’re unable to duplicate their expertise that drives the ROI and they are at their personal max capacity as to time2- they’re obtaining high ROI by use of excessive leverage 3 - they’re obtaining high ROI by taking excessive risk4- they hit correct timing in the correct market, and this is not necessarily repeatable with any probabilityIn order for an investment or business to scale, we need the ROI (on a risk adjusted basis) to be sufficient to cover a PREMIUM risk adjusted return to passive investors; all expenses of managing the assets and the business, and a significant return to the “sponsor” providing compensation to him making the work, risk and time worth while. 

@Mohit Gupta  depending on number of occupants your regular insurance can cover it, read the policy, ours covers two roomers.