The "other structures" were only 10K, while everybody else goes by 10% of the coverage (on 340K coverage of the main structure, you get 34K other structures).The ugly part - much higher deductibles: $5000 general deductible and 3% wind/hail deductible (on a 340K coverage it comes to a whopping $10K+ deductible...makes you understand their "largesse" on unnecessary higher coverage...if they know the rebuilding cost is 250K, they can give you 300K+ because they will not have to pay more than rebuilding cost, but it pushes the deductibles higher).We concluded:1.

What will happen is it'll be deducted from the seller's take away at settlement.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Rent is due in advance and in full on or before the 1st day of each month without deduction or set off.

Mainly:Annual Depreciation (About $50,000 for 27.5 years)Mortgage paydownAbility to refinance and lower your payment when rates decreaseAbility to use tax deductions for rental property expensesAnd More!...

The main difference is that you can't deduct the principal portion of your mortgage payment (even though it affects cash) but you can deduct depreciation (even though it doesn't affect cash). 

When you house-hack, you have a property that is both a personal residence and an investment property.As such, certain costs, such as real estate taxes, mortgage interest, snow removal, insurance, etc have to be prorated.There are other costs that, if directly made to the investment property section, can be directly deducted.

It doesn’t create tax deductible expenses you don’t already have. 

@Vinny Incognoli pro -> if you use the HELCO on primary to invest in STR you can take a tax deduction for HELOC mortgage interest on rental.