Insurance premiums - make sure you get an accurate initial quote on this and have conservative assumptions as they have been increasing at 10% per year the last couple years.Good luck!

My goal here was to replace all major components and renovate to a premium level finish in order to charge market rent.By installing high quality finishes, I am setting this property up to be a low maintenance long term hold 📈What kind of renovation costs are you currently spending on your properties?

If a better state for landlord, maybe see if you can find a different insurance coverage and/or if tenant will pay difference in premium to cover, then require high liability in renter’s policy.

For instance, if the cash value exceeds the total premiums paid, the excess amount is taxable as ordinary income.Risk of Policy Lapse: If the policyholder cannot maintain premium payments, the policy can lapse, resulting in the loss of the death benefit and potential tax liabilities on the cash value.

You guy made those changes and the premium went up more than double and you charge the customer credit card automatically.

Also, do you have any kind of ballpark figure for how much of a discount the group would get off premiums grouped versus individual?

There are only a few buyers out there right now willing to pay much of a premium.

It is likely that at the very least you paid market value, you may have actually paid a premium.

Also frame construction is pretty standard in that area which will increase your insurance premiums over CBS.

The initial premium is likely going to be higher, but she has some carriers that will allow this, depending on what the remediation is, especially if they are buying it as an investment and not a primary.