THUS, as long as you maintain a decent income/debt ratio, and keep your income properties at a break even level or better (after debt service) you can borrow on up to 10 investment properties on your personal credit before you need to get creative with financing. 

My property management companies in TX require 300k bodily injury and property damage.

That being said I currently have $10,000 and a poor credit score, I’m looking for advice on my next step.

I’ve got about $25k cash, $60k in credit lines, good contracting and industry experience (did multi-family portfolio management for a while) and no job (so no mortgage opportunities).For you MN folks, what’s the bottom of the “crappy but not tear-down” bad?

Charge company full replacement value of damaged items?

These products seem interesting but because of my lack of experience with them, I prefer something more tangible that I can actually touch.Also, generally speaking, I like the strategy that you give Dave R credit for which is selectively leveraging equity and paying debt.   

I use: Owner is not responsible for items damaged by the failure of the appliances or the supply of water/gas/power to those appliances, including but not limited to the loss of food.

@Brad Penley some suggestions I always try to get my client to take when buying a property that will require flood insurance due to your loan is, 1) make sure you understand if the property has ever had a flood, If so what year and how the water got in the structure and if the damage was repaired, also good to know how much the claim that was paid.

Mitigation also comes from being able to keep or use the security deposit for rent, but this is the absolute last resort especially if there is damages done to the place. 

I have been selling cars for about a year and half now and I have an average credit score in the mid 700s.