The renovations would be valued at the Replacement Cost of the work.Renovation Builders Risk policies can be issued on a annual basis or 3 or 6 month terms. 

I have a multi-family property for sale right near Brighton beach that I thought would sell fast but I'm having issues finding investors for it.

In markets with post-occupancy or quality-control issues, the inspection process became absurd.

She went in-depth to talk about maximizing rent and correcting all the safety issues that were mentioned in the inspection report.

You are dealing with hypothetical issues so far.Its great you want to get "saving," but you know most people don't buy a house at 22. 

The issue of adding a unit isn't all about construction costs, you need to investigate zoning and building requirements as well.

We prefer to make good quality updates to avoid continuous issues but obviously want to keep the costs minimal.

If for some reason you cannot, have the fee issued to one of you and have the one who received it to split it and then issue a 1099.

It appears as though there upper management and broker are better suited for vacation rentals and don’t Handel tenant issues well.

They would each be putting in 200k each and I would be putting in 100k and would be responsible for all the property management, being paid by the other two on an hourly rate when responding to issues.