Three years is the standard PPP, but 0-5 year options are usually available.

You should also be aware to make sure what was provided does or does not meet industry standards.

You may need to lower the rent you are asking for by a bit, but it is way better to have a tenant using less water because they're the ones paying for it, than having them run the water for hours since they aren't the ones paying for it.

Over a weekend during which my tenant was not home, the condo became flooded and water went through the flooring and flooded the office below.  

Welcome to TN, the water is warm. 

I'm a licenced Broker and I also handle project management for flippers, contractors, etc.FEMA 50% Rule: ALL of the homes that exist in a Flood Zone have a 50% limit on work that can be done to repair them without bringing them into compliance with current flood standards.

I have yet to see code violations, water shut offs, and fire damaged properties. 

The renovations were already factored into the LTV during the initial loan approval, and the increased value of the property due to those renovations may not automatically allow for an earlier PMI removal under Fannie Mae's standard policy.Workaround/Next Steps:Reappraisal: You might be able to request a reappraisal if the lender is open to it.

He's very thorough with this standard inspections and he also offers "investor due diligence" inspections at a reduced rate.

@Gavin Wynn In my market it is common for the landlord to pay for the heat and almost always the water.