Purchase price was $435,000, and the seller gave me a credit for $15,000 to cover various repair costs, particularly roofwork.

Daren & Elizabeth,Were are you finding Umbrella insurers to cover you considering you have 6+ properties?

IMO, once a foreclosure has begun, it's no time to jump into the deep end of the pool.Duck, cover and get out of the way.

Let's say the monthly mortgage payment is $5000 and the rent from the three other units cover that.

You just will.My friend ONLY wanted to buy 2nds where the 2nd is covered in equity.

I know rich people that have removed walls and even a swimming pool in rentals without asking permission.Do not assume, because someone is rich they will take care of your property.In short, money does not keep meth or cocaine from screwing up someone's mind.Also do not assume rich people will just write you a check to cover damages. 

Is your public adjustor's license cover Colorado as well?

But even 3100 seems super low and I imagine 3100 would barely cover one month's actual new demand.

I am attending the Section 8 seminar this week, but it is my understanding from the PHA rep I spoke with about the seminar and course that all the questions you are asking is covered through these two events.

Find a mortgage banker that will give you credit using the lease agreements.You should be able to do a HELOC on your primary residence to get to 90% LTV.VA loans will let you go to 100% LTV as long as the loan is within the county limit and you have benefit available to cover the loan.