Major water damage in my investment property from a sudden pipe burst there was some other damage from a break inand had a previous break itI have max 160k  insurance payout.It is a builders risk policy for house flipping.

They're perfect for people who might have inconsistent income or don’t want to deal with the strict requirements of conventional loans.

Do they have an extension policy? 

It's the same principle you would practice with a mutual fund: it continues to grow (hopefully) and you pay a tithe from the prophets received at the time the profits are received.I am not strict about this by any means, for myself or others.. what other people give is not my business and I do not believe in people giving under compulsion.

However, factor in seasonal demand, strict regulations, and management overhead.

But as a matter of policy, I just tell everyone that actually applied (that I didn't pick) that I rented the apartment to "another qualified candidate".

Early on, I spoke with our insurance company and our policy did not cover the tenant’s moving expenses or temporary housing.

However, as mentioned, it's more of a guideline than a strict rule.

However, the City took a very strict interpretation of the code and ruled that the permits obtained by the prior owner (the seller) were expired.

What a well presented and mature comment, much respect to you. 1 thing to note is CA business and professions code strictly prohibits an agreement as such.