Then I will rent out the entire house the next year.Could you please recommend someone I can contact to get an insurance quote? 

Requests for loans were most often made over the phone or in person with potential borrowers paying us a visit at our offices.

Quote from @John Su: The tenant is normally responsible for snow removal, just like the owner of a house.

Alternatively, if its for the hopes of accessing future real estate loans via the LLC then it may be a moot point as a lot of these bigger banks won't lend on an LLC that's brand new and no history of cash inflows/outflows. 

Then once you close on the house take out a standard 30 year mortgage to pay off the hard money loan?

I have a single family house that I’ve been house-hacking by renting out 3 of the bedrooms.

If I sell a single family house for $1 million which has a mortgage of $100k, can I do the following: I buy a single family house property using 1031 exchange for $1 million and get a mortgage of $700k .

Coincidently, yesterday we got a call from a first-position borrower informing us he’s fallen on some hard times and will have to walk away from the house.

can you house hack, or does your lifestyle / family situation not permit it? 

Wealth of knowledge - It's easy to quote a loan, it is much much harder to get one closed.