Additionally, you do not look very good in court, when a tenant claims they do most of the maintenance beyond what I mentioned above; you may even find yourself owing the tenant for their time and labor. 

CoCR measures the proportion of income received from a rental property in a year to the amount of cash invested in the property over the same period (one year, or 12 months).

In addition your family in a vertical line cannot benefit either. 

Bring me short sales and owners trying to avoid foreclosures, owners needing post occupancy….additionally please reach out to me if you’re holding notes in default you need off the books!!!!

I thought it would be as simple as adding up all of my losses  from Schedule 1 - Additional income and adjustments to income line 5 over the past few years. 

Assuming I could qualify financially (primary income plus FHA allowed rental income contribution from additional leased units), when I become the owner of the property, would that prevent me from using a FHA 203b to house hack a second property? 

So some of what I am going to say I know may not be received well, but its the Gospel Truth for Real Estate.

Additionally, think about the rental demand in your area and how that might affect your vacancy rates.

In addition to that I love accounting and tax and love helping people and pointing them in the right direction even if our model isn't a fit for them hit me up any time!

Al,For a Flip, the usual coverage is a Builders Risk policy to cover the existing property and the additions/renovations.