I have cash that I've saved but cannot use because I have not kept it in the bank so I am paying off my car with that and then taking a new loan out against to show history of the money and then I am taking a loan against my 401k to cover the rest.  

The problem is that our primary residence is in my name and I don't make enough working part time as a nurse to cover our primary residence mortgage and do a second home mortgage on paper.

The only thing is my regular job as a nurse I don't make enough to cover the cost of our primary residence mortgage and the second home mortage on paper.

I was told that it was not covered because I should have gotten a land survey during my due diligence period and that the policy covers only the land it describes.

Is there any room to add value to justify an increase in rents, or do the recent updates pretty much cover rehab and rents are at the ceiling of FMR?

This property was purchased in 2006 for $60,000, and $49,500 wouldn’t cover it??!!

@Gabe G. do you know anyone a little south of you that would cover this area?

Basically, if your property is damaged by a storm big enough to have a name, you're covered. 

I assume the operating agreement can cover multiple LLC's that do the same business type?

Soooo long story short, if your goal is to use the property a decent amount of time, you will at least break even & cover ownership expenses with short term rentals (possibly make a few bucks).