I didn't know that you could cover it up with binding paint, I hope that if you do it works out!

To answer your question directly, since you have no insurable interest in the property you wouldn't be able to purchase the necessary landlord insurance policy to cover the property for short term rentals. 

The hosts and their 2 children were spending the summer at a beach house they rented, wanted to cover the cost by renting their primary residence.

Your friend should put the house on the market.I'd reach out to @Russell Brazil as I think he covers that area. 

If there's a child who lives in the unit who has an elevated blood level, even if it came from outside the unit, and you don't have the certificates, you're going to be target #1 and you won't be covered by insurance without the certificates.So just on that issue alone, yes, even if you have to put it on credit cards, I would get those new windows in, on all the units you're renting out.

Larger properties with national tenants tend to have strong urban core to suburban locations so the dirt is very valuable today and usually into the future.So on smaller properties with a more local bank it is a big loan to them and they want to look good to regulators so they get as much info and place as much controls as possible to CTA (cover their #ss) themselves. 

The problem with allowing anyone to attend is that it takes time away from what can already be a full agenda to cover in a short period of time.

They can't sell their house - they'll take a loss, they need money quick to cover moving costs and an apartment, and they can't refinance.

I will be using hard money for this deal and a partner to cover the carrying costs, until sold.

I will be using hard money for this deal and a partner to cover the carrying costs, until sold.