The HOA in which the unit I am purchasing provided their HO-6 policy to our lender and our lender is questioning the following as it appears on the policy:Special FormReplacement Cost (Actual Cash Value on Roofs)The verbiage in parentheses is the one causing the hold and need for clarification.

It is created for legal protection, and its effectiveness for legal protection is hotly debated.

I basically try to adapt and work with whatever the market is providing me..

With over 20 years of experience in real estate and having navigated various transaction types, I'd be happy to provide more personalized advice on managing such investments effectively.

I will need a lender to provide the money for repairs, then I can refinance and rent.

Real estate can provide a more tangible asset and potential for rental income, but it requires more management and can be less liquid.

Positives: 1) Provides higher protection against rent loss, property damage, evictions, etc vs.

It's crucial to have someone who can provide proactive guidance and help navigate the tax implications of decisions as they arise.

Profitability can also be enhanced on a sale (sometimes) if we choose to provide owner financing or wrap financing.  

The only exception(s) to this (if any) are the items reflected on theaccompanying Escrow Holdback Agreement, if applicable.Citizens is authorized to disburse the final draw in the amount of $________________ in accordancewith the executed Disbursement Authorization on file.It is understood that, in the event the Borrower(s) are dissatisfied in any way whatsoever with theremaining construction after completion by the General Contractor, their sole recourse is against theGeneral Contractor.Borrower(s) and General Contractor, jointly and severally, agree forever to fully protect, defend, andsave harmless Lender from and against any right, interest, claim, and each and every of them, ofBorrower(s) or General Contractor against the Lender, against all losses, costs, damages, and attorneyfees and expenses of every kind and nature which the Lender may suffer, expend, or incur under or byreason or in consequence of holding the remaining proceeds as provided herein."