For investors they can expect 1.5 to 1.75 more money vs long-term rental.

@Jerry WesthoffSome of the larger hard money lenders may be able to fund this for you, if not a private / smaller hard money lender probably would look at it if the arv made senseI would start with larger companies

Since I am not really changing the main purpose of the property, one source told me it shouldn't apply.Lastly, do make sure you apply for an account to pay your sales (collected by Airbnb and vrbo, but not others) and Tourist Development taxes (you must collect).

Lets see , $25,000 to first time home buyers , plus forgiving student dept , nice way to buy votes with tax payers money .

It may be a little too late since you accepted the insurance money already, but typically you would have a contractor in place (Ideally multiple quotes) before accepting the amount quoted to you by insurance.If your insurance company referred you this company though then after doing more research on them maybe they are the best option?

I'll save the premium and know I have the money in case something happens, instead of paying the premium and hoping insurance comes through. 

With a good credit we can get a loan (just have to find a good lender) and have money for downpayment.

Assume 10% waste for flooring material and tax, and I pay about $1.15/sf for carpet installed, on average.The supplier I use delivers to anywhere in the Atlanta metro area for a $75 trip charge.

Or should I focus on trying to make more money per year before buying a rental?

Need to find a good hard money lender to help fund the acquisition and rehab for the property.Are we squared away financially to refi out of the hard money loan using conventional financing?