We pay all of our expenses out of that which includes: broker split (my brokerage takes 22% of the total commission, this varies by brokerage and is typically anywhere from 5-50% depending on how much support the brokerage provides and whether or not the agent is on a team), transaction fees, transaction coordinator cut, income taxes (15-20% of what's left after broker gets their cut), errors and omissions insurance, MLS fees, board of Realtors dues, required continuing education costs, vehicle and vehicle insurance plus maintenance, repairs and gas, health insurance (also health insurance for the family if they are the sole breadwinner), technology fees, desk fees (office rent), marketing materials, advertising/ lead gen, etc.

@Kristin MathernI would pay it given no keys were provided, it wasn’t specifically addressed/mentioned in your lease, you were provided the opportunity to address/fix yourself with a 25-30 dollar replacement from Lowe’s/Home Depot, and lastly, it was an existing situation that could have been avoided/prevented at move in.

Tenants will set up insurance, show you proof, then cancel their policy right after moving in.

Quote from @Edwin Soto: Quote from @Kathryn Morea: Hi Ryan,I moved to Puerto Rico in 2020 and I am invested heavily in the market. 

@Jacob Dalton, I'm going to have to agree with Jonathan Klemm (sorry, couldn't tag you) & @Brie Schmidt -- you can definitely be a successful landlord in Chicago with the right team in place.  1000's of investors do it every day. 

The premiums didn’t make sense compared to the other options I found for the two properties I moved off this policy, nor did they align with the rates I have for other properties in my portfolio that are not on this policy.I’ve shopped this policy extensively across multiple companies and brokers.

We just gave our tenants notice that we are planning to move into the rental they are leasing from us.  

I don't have much advice as now the profits are gone and it seems like the best thing to do is to get your money out the deal and move on.  

Connecting with experienced investors is a great move as it allows you to learn from others' experiences and opens doors to partnerships, resources, and insights you might not have considered.

For your out-of-state BRRRR plan, building a strong local team in St.