I am going to see if I can switch to a local Wisconsin insurance that reflects our local risk level in their premiums.Many of the homes in the Pacific Palisades are 3-5 million, but when you look on Google Street View, most are very modest homes from the 1960s (there are some $20m ultra luxury mansions too), so a lot is the land value, the home replacement value on a 1600sqft may be what - 500k at the most?

I've spoken to a few local attorneys and they have never heard of that.

I'd start with attending local investor meet ups.

Beyond the Monthly Management, Placement & Maintenance fees, all other fees in our contract are IF EVENT -> THEN fees.

About to close on a 10+unit apartment building and my wife and I would like to self-manage as much as possible, as I am local. 

Thank you all who responded, I plan on spending some time driving the neighborhood and talking to anyone at the local coffee shop who will talk to me. 

@Kyle TrotmanI would suggest speaking to local banks, and credit unions.

When managing multiple applications, it’s crucial to ensure your process is both fair and compliant with local, state, and federal housing laws, including the Fair Housing Act.A best practice to avoid any perception of bias or confusion is to process and work on one application at a time.

For example, you might leave $10,000–$25,000 in the deal, end up with a $3,000 monthly payment, and only collect $3,000 (or slightly less) in rent.This applies to my local market and primarily to Class B or higher real estate.You’re better off finding a solid property that needs only light cosmetic work (e.g., paint, flooring, or perhaps a kitchen or bathroom remodel), buying it at a decent discount, and putting down at least 25%.

I like markets with diverse job drivers, and it is always helpful to have major corporations locally.