She has no intention of following the stipulations in the lease for breaking it (45 day notice, rent due during the notice, plus an additional months rent). 

After the amendment, the insurance company added the following premiums:Optional DeductibleLandlord's Premises Liab.Other Structures CoverageOrdinance or Law CoverageDwelling Additional CoverageProtective Device CreditFrom your experience, are these additional premiums needed?

Additionally, If I wanted to use a hard money loan to finance the construction portion and do the land acquisition in cash does anyone know how to manipulate the BRRR Bigger Pockets calculator to include that?

Also, in addition to books and podcasts, and join a few more local REI groups to get a sense of which one(s) suits your needs best!

In addition, you can search for BRRR here and will find a ton of materials. 

I will admit that it was difficult at first to set money aside because all throughout college we barely had enough money to pay our bills and now we both had good jobs and had a significant amount of additional income.

If this is the case, you might want to collect additional deposits and/or modify lease language to mitigate your risk and aggravation.

Worrying about things beyond our control will just lead to additional stress and serves no purpose.P.S.

the more properties you have the less reserves per property you need and the safer each additional loan is.

The HML lender will provide additional draws throughout the construction process.So, here's the tricky part that I'm still working on, which is funding the construction throughout the process to keep the work going, because I don't want to wait on the draws to be reimbursed MY OWN money.