I fixed it up and am now renting out two rooms in it, bringing in $1700/month which covers a lot of my mortgage.

A prospect tenant offered to pay 2 months rent deposit plus 12 months of rent upfront due to the fact that I was unable to screen them at all.

We have a fairly rigorous screening process that has served us well and I have no way of knowing what screening purpose was used by former landlord, other than maybe checking for a pulse and a wallet.

While an insurance policy may cover your defense and potentially cover the actual damages of your tenants, it cannot and will not cover punitive damages.  

I don't see any numbers to cover Management, CapEx reserves, or Vacancies.

We've laid it all out in the Rules and Terms of Use, but there are a few basic rules that will cover what you're asking about.1.

Unfortunately, it is six months, not four.I contacted both my current lender to see what it would cost to extend my lock for another couple of months (around $2k) and reached out to the previous lender to see if that's something they would want to cover to avoid the EPO recapture, which I believe would be quite a bit more than $2k.They had no interest in doing that, so before making a decision on how to proceed, I wanted to gather a bit of collective wisdom from the forums.My first question is, does anyone have any creative ideas for how to work around this?  

No walls and every room was completely covered in debris.

Will your budget cover that?

On the flip side, if you put systems in place for effective management and screen your tenants thoroughly, you can very well supplement your current income with consistent cashflow.