Is there any waiting period until I can use these proceeds, not to lend again, but to spend personally? 

However, it's hard to know whether that person is marketing and operating their STR well or not.

Personally I'd use it as a DP for a hard money loan on a flip or BRRR.

Some have online systems, and others require you to go in person.

I'm not a fan, of this idea, but there are some property managers around that charge $150/person app fee. 

But one point that wasn't made ... if a storm comes through, and even if YOU don't make a claim but most everyone else does, YOUR rates will still go up too. (95% of the time) Because they gauge the rates not only by personal details but also by the claims in that coverage area/zip code. 

I personally know two people who are flipping mobile homes and have good success. 

If in doubt, consult with your tax professional for personalized guidance.

I have personally spoken to 3 attorneys who all said the same thing as you, and I have communicated the same to the board.

It’s not a secret that real estate investing requires a keen eye for opportunity, a dash of risk-taking, and an adventurous spirit.