@Jamie BanksI understand there are multiple parties: 1) displaced insurance policy holder (tenants)  2) ALE 3) The company that supplies all the furniture and install the washer and dryer. 

Quote from @Jack Krusinski: When my rental properties are in a situation like this, I make an effort to create a structured and aggressive payment plan to help tenants catch up.

I’m currently looking into the best ways to structure guest payment flows to ensure legal compliance (that may restrict non-licensed property managers from collecting rent directly) and seamless operations.

As far as refinancing, you can either do a conventional loan where they use your debt to income / DTI to qualify or you can use a DSCR loan which structures the loan off of the rent versus income ratio.More info on DSCR loans: DSCR loans won't use your income to underwrite the loan. 

Throw in a few nice touches, like coffee or board games, to wow your guests.Keep extra linens, cleaning supplies, and essentials like toilet paper handy so turnovers are quick and easy.

They can guide you on tax advantages, asset protection, and multi-state strategies.A HELOC is a smart way to leverage your equity—ensure your financing structure aligns with your long-term goals.Since you plan to add multiple properties annually, consider setting up bookkeeping and financial tracking systems early to streamline your operations.Best of luck with your BRRRR journey—it sounds like you’re off to a strong start!

I probably won’t structure my next deal this way, I would rather just own the property and have more control of the project.

My househack I structured a bit differently on the lending side to make it work better for me, so if you have questions on how that might look happy to help.

One additional thought: a disregarded LLC might work for you if structured correctly.

The other option is a water supply line, but that would typically resulting a steady leak and the damage would occur faster.Really think about what is above that space that could cause the issue.