The roof needs to be replaced anyway so I would plan to do that so really in the end, just the black soot coloring.Any issues I should be concerned with?   

My attorney advised me and my spouse to setup separate revocable trusts for asset protection but I'm finding that some financial institutions do not allow accounts to be held in title under more than one trust.

If you do a 1031 and buy a new property for 400k, your new basis is 250k. 

@Nicholas L. in this scenario when you say house hack, do you mean rent by the room instead of by the unit?

I do not want to turn into a x3 unit building due to creation of HOA etc.

Trying to scale the business to a point where I can do it for a living but not really sure the best way.

If you can find out what they will actually can/will do, it would be very interesting, especially in this market!

So that being said, knowing that *I am not on the title/deed* can *I* go get the policy in my name since I do not have that issue of having made a “Personal Articles Claim” within three years.

How do you analyze a property for a medium term rental?

Or do they keep them higher now thats the 30 year conventional is dropping.