If you would have had a fire, that policy would have responded.Keep in mind, State Farm may cancel you if they find out you were uninsured for those few days...It's a common guideline to have continuous coverage for 1-2 years to be eligible for a preferred insured policy.Good luck with it.

@Aaron Taylor Very common issue and it is company specific as @John Mocker states.I'd say 9 out of 10 of my clients have a different Umbrella carrier than who is insuring the rentals.Having different insurance carriers will not cause headaches in the future as long as both companies are fully aware of how the properties are titled and the Umbrella lists all of the named insured's correctly.

If there is a crash or rents fall worse case scenario I just cash flow less for awhile until the market recovers. 

I’m seeking referrals to investor friendly agents who understand the house hack approach and can help me creatively find and create a $0 cost of living scenario.  

If you could lay out your “best case scenario”, it’d be much easier to give you some specific advise.

There are a lot of reasons, but a GP is disfavored way to do business in most cases.If all you and your sister do is put your names on the deed, you will be considered tenants in common.

Essentially they're designed to fill the void in the market between hard money and conventional financing.Find a good mortgage broker and have them work out some scenarios for you. 

Im basing the 650 off of what I hope is a worst case scenario if I have to drop the price.

I don't see any way for traditional lending to work in this scenario and a HML probably wouldn't be worth the cost.

I've got a similar scenario in the works.