I have read a couple of articles that bemoan that homeowners in expensive locales will suffer, however little to no impact to less pricey areas and a net probable boost to landlords.Live in flips will certainly be less profitable if the capital gains exemption increase from two to five years! 

(You do have reserves to cover this sort of situation, don't you?)

There is a big shortage of affordable single houses in this current market and more and more millennials are turning renting (due to low wages and mainly because they saw their parents suffer the 2007 crash which hit FL specially hard)If you have a rental property you'll always have occupied, plus, using the FHA loan bears less risk and maybe no work assessment.

I'm curious because 1700 covers at least one no th rent. can I argue that this 1700 is for the court fees and month of December December's rent and still procede with the eviction process?

Its covers a HUGE area and several counties.

Would a lease option saying I just cover the property taxes and property improvements for him work?

Fortunately, you have the security deposit if it comes to that point to help cover some of the costs. 

My question falls on insurance for the Dwelling - should this cover the entire appraised value of the house?  

@Tyler Crawfod, our BP colleagues have pretty much covered most if not all ways to make a situation work. 

There's a lot of discussion around partnerships, private lending, and hard money, but I don't see much discussion on the actual mechanics - what these arrangements look like in practice.My hope is this post can serve as a reference for those starting out, so we may get a better understanding of how these strategies are actually implemented as well as an ability to more accurately predict the profits and returns you and your lenders and partners can expect.If those with more experience would like to revise these numbers and statements, it would be most appreciated.These scenarios assume you, the flipper, are bringing none of your own capital to the deal.Typically, this would mean 1 of 2 scenarios...Private Lending - Someone you know brings 100% of project costs (purchase, rehab, acquisition costs, holding costs) to complete the deal and in return, they get a certain percentage return which comes out of your profit.Hard Money + Partnership - You get a hard money lender to cover 80-90% of purchase+rehab and a partner to cover the remaining 10-20% as well as acquisition costs (including hard money origination and points) and holding costs (including hard money interest payments).An aside about the structuring...Private Lending - A promissory note is created, and your private lender lends to you or your business.