Which makes it tough to maximize your mortgage coverage.

- Were banks interested in lending on the opportunity, or did you have to go with a non-bank / bridge lender given limited-to-no debt service coverage at the outset of the project?

I would potentially use the license to supplement retirement income and for expanding to more rentals when the market eases a bit.

The biggest things to make sure you are aware of on your policy is water backup, and service/utility line coverage.

By “properly” I mean the debt coverage ratio must be 1.20 or higher with 100% financing.The debt coverage ratio is the net operating income (yearly income – yearly expenses) divided by the mortgage payment, also known as “debt service”.

The limits and coverage should be similar to your current homeowners. 

Alteration of the insured building rendering it ineligible for coverage. 

Overall can be used as a supplement but not as the only option.

Decided to go the “Off Market” deals route to supplement our search for a multifamily in New Jersey.

. $3000/mo versus $2500/mo), is it worth renting it to the short-term rental manager (I assume that increase of insurance premium and additional $1M-$3M liability coverage cost no more than $150 more per month)Also I see Airbnb has $1M liability coverage that "generally applies first regardless of other insurance policies you may have". https://www.airbnb.com/help/ar...Host Protection Insurance is a liability insurance program.