Michael,From an Insurance standpoint, your policy may have coverage for Loss of Rents.

Many places are not able to be rented at all.You MUST have a full short term rental coverage.

Lately it seems like more sponsors are choosing to sell rather than refi, because they've been able to earn a nice return for their investors and themselves.If you were to ask me my top 5 key numbers, I would include: Debt Service Coverage Ratio, Expense Ratio, Unit mix, interest only period, and loan term.

The sellers current coverage is 40,000 building 5,000 deductible with a $1,364 premium (which would probably mean I’d need more coverage and would have a higher premium if new elevation certificate doesn’t help).

Check with your insurance agent and describe what type of work you do and they should be able to find the type of coverage that you need.

Maybe that's just me.Oh, and when I read said law or contract, I do so for comprehension.

That being said just make sure that you have proper coverage in place to protect against those damages.

Depending on where your property is located, it may be in high-risk area for low-qualified tenants and an extra coverage policy will go a long way. 

Check your debt coverage using those numbers.    2.

If you choose to Quitclaim then you’ll want to check with the Title Company regarding the Title insurance to see if the coverage remains intact if the asset is transferred.