Analyze market circumstances, project remodeling costs, weigh risks and rewards, and do extensive due investigation on possible investment properties.

You are correct, the provider of the water and wastewater is a government entity that can lien the property if the bill goes unpaid and the utility is based on usage not a flat fee.My leases also state that any monies owed are considered rent under the lease contract, but under these circumstances, I can't enforce it.

In light of these circumstances, I'm seeking advice on the best financing options to address this costly project if insurance coverage falls short.

Well in most circumstances, anyway.

Where you can use that deprecation depends on a variety of facts and circumstances. 

Thanks Hi Seidy, like others have mentioned, this is not an advisable strategy in 99.9% of circumstances.

@Benjamin Greiner just commented on another post about a tenant threatening to sue over mold issues - that tenant neglect caused.We told the landlord their lease should have had provisions in it to hold the tenant accountable for the damages.Standard leases only cover the basics, so you should Google all the leases you can for ideas to take to an attorney to include.

*The short-term rental must remain an accessory use to your full-time occupancy.Under no circumstance shall the short-term rental services become the primary use of the property

Neglect maintenance/operations.

Given the circumstances you've described, it seems you have a strong case for taking legal action against the seller.