Where I'm currently struggling is coming up with the necessary funds to cover the 10-15% down payment and remaining funds for the interest payments on the hard money loan, etc..

Many investors prefer to keep at least three to six months of expenses in reserve to cover unexpected costs such as repairs, vacancies, or market downturns.

@Troy AnthonyHi Troy, Mid-term rentals can usually be covered under a policy that allows both short-term and mid-term uses.

. -- This happens in many homes around the country whether they are managed or not, whether they are for rent or not, whether they are for sale or not. 2) Damages: "I had to cover the rehab costs myself due to winter conditions and the risk of frozen pipes."

Quote from @Syed Ahmed: I’m not sure of a specific Niagara Falls REIA, but the Buffalo REIA often covers the surrounding areas, including Niagara.

Market rent looks to be about $1,800, so it technically covers the mortgage, but once you add management, maintenance, reserves, etc. the numbers get real thin.So here’s my question: do I hang onto it for a few years, maybe lose a little each month and hope rates drop so I can refi and cash flow better down the road?

[3]      And subletting space to a juice bar is a much different type of rental then subletting space to a gym, What if you could not get a sub-renter, do you have deep enough pockets to cover that.[4]      What about using space in Community Center type recreational properties that are owned by the city, Either Las Vegas or North Las Vegas whichever you're based in?

At level 1, I'd say you really only need a landlord policy for the home, a commercial general liability policy for the biz, and an umbrella policy that covers you and the biz.

The more realistic approach would have been to raise LP equity to cover the down payment.

GL coverage rarely will cover this, and you are at the mercy of the GC to make the repair.