Shortly after while performing remediation on the same property, my contractor identified that there was significant hail damage to the roof and so an additional claim was submitted.The property is in Texas and I've read on the Texas Department of Insurance website (paragraph 22 on https://tdi.texas.gov/rules/bor-home-english.html) that insurance companies cannot use claims you filed as a basis to non-renew your policy.

Neighbor heard the alarm saw smoke and Called fire department.   

Rented the place to him, was hardly ever there, stilled lived with his mom, paid rent in cash, saying the cash is from a second job when I asked him if the police department paid by check.

You want at least a 30% margin above costs and the NOI needs to be enough to pay the debt service after stabilization and then some.If the project looks feasible from a financial standpoint the next step is to check with the city or county planning and zoning department to get an idea if your concept will work, if you can build what you would like to build and what is required for all approvals including site plan, building permits, proffers, water/sewer tap fees, bonding requirements, inspections, setbacks, lot coverages, parking requirements, height restrictions, C/O process and time frame for all approvals.You also need to check with the utility companies and get an idea of availability and cost estimates from them for water, sewer, power, gas, cable, installation and connection requirements, tap fees, hookup charges, transformer location and relocation, power line and power pole relocation issues.

Now, if you're going to do a long close like buying land for development, or a huge apartment development you may want to calm the seller by putting up a $5000 non-refundable fee for allowing you to take "MONTHS" to conduct your due diligence with the city, permits departments and the like.

To wit, unless certain very rare criteria are met, FHA will not allow you to "count" departing residence rental income, so your day-job income and the income from the new property would have to entirely support the new property AND the old property.

Yes, city and county planning departments are a great source of intel on what can be developed on parcels of land.

Department stores use a similar strategy where they mark up an item, then have a "sale" on it at regular price.

Check the city's Web site, make your best guess, and then pick up the phone or go down to City Hall in person.Depending on how integrated the various city departments are, and how broke the city is, they may ask you if you pulled building permits to do the renovations for the second unit. 

Check with your local building department-you can ask the general question without giving an address.