I have a 7 year ARM at like 8.8% interest rate. 

@Michael NavalI think it is a very wise strategy and if you will be very certain about the timing of your refinance and cash flow, an ARM can already serve as a short-term bridge.

With DSCR loans, a lot of lenders focus on business purpose and arm’s-length leasing, so renting to family can be an issue even if the rent is at market.

An HO3 policy is an open peril policy, meaning that everything is assumed covered unless explicitly excluded.

Today’s buyers and travelers are explicitly looking for places that are not saturated, not overrun, and not priced out.

STR nights per yearHow loss-of-income is defined under the policyWhether your umbrella policy explicitly allows STR activityAny claims filed, and how the experience (including renewal) went• If you considered a dedicated STR policy but decided against it, what factors drove that decision?

Option B – What I’m considering10% down (~$20k), Conventional 5/1 ARM (no prepayment penalty).

Option B – What I’m considering10% down (~$20k), Conventional 5/1 ARM (no prepayment penalty).

From a numbers standpoint, I completely understand questioning a monthly service you are rarely using or arming.

At the state level, permitting residential property for residential use is explicitly illegal (and has been cited in multiple cases since the law was clarified in 2019) NC General Statute 160D-1207(c) partial quote: "In no event may a local government do any of the following: (i) adopt or enforce anyordinance that would require any owner or manager of rental property to obtain any permit or permission under Article 11 or Article 12 of this Chapter from the local government to lease or rent residential real property or to register rental property with the local government..""...require that an owner or manager of residential rental propertyenroll or participate in any governmental program as a condition of obtaining a certificate ofoccupancy..."