In light of these circumstances, I'm seeking advice on the best financing options to address this costly project if insurance coverage falls short.

@Jacob StraussenTerm is essentially a commodity biggest difference you will see is if you want to have options to convert to perm that's when you would want to do more research and really get carrier specific.  

There are so many free and paid options available, so I would take some time to do some research and pick the one that fits your business best.

Thanks Dave, if any of those were an option Id have done itThis was a miscalculation on my part though which has left me in a last minute crunch.

I then countered with a couple of options.

Please input into your spreadsheets and send me your rates.Interest only options as well if possible.

You will then have a few options with that rent money....you can put it into principal or you can start saving it to purchase yet another property. 

If you cannot qualify with income or credit, there are other options available with niche lenders and hard money lenders for the situation on an investment property.

Once you know what is required, then you can discuss options with tenant as some may prefer a rent credit if they can stay with family or friends while others actually need a place to stay.

I started with buy and hold investing and I think is the most powerful way to create wealth long term.