Insurance coverage.

However, there are carriers that will add coverage back to your policy by endorsement (with limitations of course).  

DSCR refers to a mortgage that calculates a debt service coverage ratio to determine your ability to repay based on the mortgage payment and proposed rent.Don't look for a hard money loan unless it's an absolute last resort.

That type of policy can provide different (sometimes greater) coverage than a vacant dwelling policy.  

You don't want them to bind coverage that won't be applicable in the end. 

The contract nature of their employment also means I won't need to provide benefits (which is fine for them as they already receive government-funded health insurance coverage).I am aware that dealing with family in this way can quickly become complicated, so part of our contract will be a periodic performance assessment to make sure they are doing a good job.

• Do you have the time and resources to complete detailed underwriting, prepare a comprehensive loan request, and manage communications and deliverables with multiple lenders?

Just get good liability coverage and plan on the extra expanse for pool maintenance.

For fix and flip, you would usually do a more comprehensive renovation (using higher qualify materials), but not too much more.

Also FEMA coverage is different for investment properties so when you get insurance make sure you know the coverage.