Our pet policy is typically to allow no more than 2 animals.

Yes this is how you grow wealth, but it is for the experienced investor, and one that is not over leveraged and so can withstand a hit to the market (what if stocks crash next year, or current tax policy goes through reducing incentive for owner occupants). 

Life Insurance Companies have long-term liabilities (policies) and they need to invest their monthly premiums in order to ensure that they are getting the return necessary to pay out on those policies.

It doesn't necessary have to be an umbrella policy, but about $1 million in liability coverage appears to be the going benchmark.

Our policy was an actual cash value policy so there is really no penalty for not repairing things.

I just contacted the policy departments at the FTC, OCC and FDIC to ask for a policy change for cosigners for loans with no specific end date.

Your right though, honesty is the best policy and I definitely feel more comfortable being honest anyways.

The insurance company will send you notices if the policy goes unpaid or she attempts to change it and lower the coverage.

Also something to consider with the insurance, while occupying the residence you will have a home owners insurance policy, when you move out and have it as a full time rental you will need to switch this into a landlord insurance policy which could end up costing you more money and with these numbers in just doesn't seem there is enough room even with the rents raised up to $850/ side.

I filed a claim against the Title Ins policy but was denied.