Looking for a side hustle to supplement my income so that I can purchase my next rental property! 

.), you'll want a landlord (DP-3) policy that focuses on stud-to-stud interior coverage, also known as "walls-in" coverage.Here’s what to consider:Dwelling coverage: Get a replacement cost estimate for the interior finishes—kitchen, bath, flooring, HVAC, etc.

Although your name is less likely to be found in the docket if the property is owned by an LLC or another entity.Also, regardless of whether you own the property in your name or as an LLC, the same coverage exclusions will apply in your GL policy.  

You can do refinance with construction financing but most of the programs require some kind of experience as well as GC with liability coverage

Are there other return metrics you’d recommend focusing on for something newer like this — IRR, cash-on-cash, debt coverage, etc.?

Financing ApproachSince you may have retirement savings and equity in your home, consider:Conventional rental loans for predictable payments.HELOC or cash-out refinancing for down payments on the first investment.Keep your risk level moderate—don’t over-leverage if your primary goal is supplemental income in retirement.4.

Owners get clear, proactive updates (not silence and excuses).We’re not trying to be everything to everyone, but if you own (or are about to own) in Dayton and want real operations support, I’m happy to share things like our leasing tracker for Dayton submarkets, a sample of our monthly reporting, what we’re actually seeing for rent ranges and tenant profiles in A/B neighborhoods right now.Happy to connect if it's helpful — we’re in Dayton regularly and have full PM coverage there!

Any special caveats to include/exclude in the insurance coverage as its a rental property?

Even if the appraisal isn’t sky-high, as long as your debt coverage ratio is strong, you can still pull enough cash out to pay most (or all) of that $50K back.Bridge Loan / Private Lender: If the DSCR doesn’t quite give you enough, a short-term private or hard money loan could clear your family debt and buy you time to stabilize and refi again later.Cash Flow Method: If you can’t refi right away, start making interest-only or partial principal payments to your family member from the strong student housing cash flow until you can do a proper refinance.Partnership Buy-In: As a last resort, you could sell a small equity stake in the property to another investor to raise the capital to pay her back.5.

Quote from @Kelly Schroeder: I’ve been hearing more investors talk about DSCR (Debt Service Coverage Ratio) loans as a way to scale rentals.