I forget if the builder's risk has any liability coverage.  

Somewhat a modified BRRRR supplemented also by my 9-5 career.

In speaking to many local banks I am finding that based on debt service coverage ratios I am likely to receive around $9M in financing, and coming up with the rest of the capital is a challenge I haven't been able to overcome.I have discussed phasing with the city to try and overcome the issues with capital, and it is possible for me to phase this project all the way down to 1 or 2 of these 5 plexes at a time, but will lose some of the construction economies of scale, complicate the site plan/ permitting, as well as make the financing a longer more drawn out and complex process. 

Many are just trying to be as quick as possible, while navigating the regulatory and supplemental requirements, in order to keep their license.

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

This will be a side job, and therefore source of supplemental income.3.  

Newer insurance agents will even accidentally exlude important coverages because of the Carrier based jargon.

All the quotes below have the building coverage of $250,000 ($50,000 contents) and a $5,000 deductible Option 1 - The government option (also referred to as NFIP or FEMA) Annual premium of $9,191 (Wow and Ouch) Option 2 - My most competitive Lloyd's of London flood insurance optionAnnual premium of $1,345.45 (very good) Option 3 - My second best (sometimes) option Lloyd's of London flood insuranceAnnual premium of $2,976.73 (still good, well kinda ok compared to the NFIP) We, of course, shopped for other options but not of them were noteworthy.One thing to know is if the property has had a prior flood loss, the private flood markets might decline to offer coverage, leaving your only option the government offering. 

Turns out I may have been given some bad information re the buyer's insurance company not issuing coverage.

TIAFinancial Info1.00%2% RULE $121,000.00TOTAL INITIAL EQUITY 6.00%TYPICAL CAP RATE 6.80GROSS RENT MULTIPLIER 1.12 / 1.37DEBT COVERAGE RATIO $300,883.33ARV*This link comes directly from our calculators, based on information input by the member who posted.