I have a friend who purchased an empty lot a few years ago, developed plans for around 200 apartments to be built, but didn't have the resources to cover the construction/interest costs until revenue could be generated. 

I don't have a lot of emergency funds to cover of it.  

You still might get stuck with the overage but you can cover some of the costs this way. 

From my understanding, they will cover 75% of purchase price (25% down payment from buyer) and 75% of rehab costs (up to 75% ARV as you mention), so it would require a larger cash reserve to cover those repairs, which is why I decided to go with another HML for the time being.Looks great though!

Always list your business under the mortgagee clause for the insurance and always require their insurance to cover at least the balance of your mortgage to them or 90% of the value of the property (whichever is greater).

The tub was the type that also had the side walls as one entire piece so along with the tub that was cut out was the walls as well.I contacted the home insurance and was later told that they were unable to cover any costs associated with the replacement because it was considered "over a period of time damage" and not sudden.I was well aware of how to demo all of the old tub and to clear out the area but after that my youtube education began.

It depends on the contract some will say only certain pests while some will cover general pests. 

The one person paying the mortgage is also the one person that gets (and reports) rental income (settle among yourselves once in a while, like if Joe gets shafted $25k from doing this then make sure you get right with him at some point - buy him a Subaru, or each of you cover $12.5k of his slice of the next down payment, or something). 

He covers 9 or so properties for me. 

My plumber disagrees and says I should be proactive and do the fix to prevent a larger issue in the future.Thoughts on if this is the condo board's responsibility and whether I should cover the costs for the fix?