I have an opportunity to do so in Southwestern Michigan (not Detroit)...90 minutes from Chicago and 5 minutes to the beaches of Lake Michigan. 

So I am left getting a policy with a non admitted carrier for likely 2-3x the price for less coverage.

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

Quote from @Greg Scott: The video was at the tail end of a 45-minute job, so I was pretty warm by then. :) 

Hey (:So the traffic on this post might give you the answer...Generally a good cash flow market, flips are kind of stuck.

It can be a very good market, but the why behind your choice may help us give you better advice on how to move forward.Before realtors and property managers, you really need to meet other investors so you are making a good move by trying to do that here, but it would be better if you could do it in person.

You pay 10% penalty plus taxes (lets say state and federal of 25%) - so you are paying $70k in taxes so your $200k is now $130k.

If so, what tools are you using?

That higher interest will be a lower cost than the closing costs for the refinance so a net gain (depending on your new loan size). 

I have 1000 sqft so $250k.if I have no GC and manage all the subcontractors I will not have a Rolodex so have to find subcontractors and I’m sure there are a million other complexities.