You can do this for well under a fraction of what the cost is. 

Most of my experience lies in the longterm rental property world, but we just picked up a short-term rental in Vermont and are going through the process of getting it ready to go.The property cost about $415k, and my insurance quote for homeowners + liability was about $4k, which seemed high to me.Obviously insurance quotes vary greatly by policy, but wanted to get a sense as to what others were paying and what provider they used.I am used to long-term rental policies, which seem to be less expensive.Thanks in advance!

Works best if you trust the flipper.Wrap + Second Position Combo: This is a cool little move—you work out a wrap-around mortgage with the seller, then assign that contract to your borrower, and still lend in a second position for repairs or closing costs.

Insurance-  replacement costs.  

If any costs go up, developer eats it.

Finding deals outside of California can definitely open up new opportunities, especially given the cost of living and market dynamics in the state.When looking for properties in other states, consider focusing on areas with strong rental demand, economic growth, and population increase.

Extra 4 months of carrying costs are up most of the margin.

More work, more time but you can take advantage of a nice cost segregation / bonus depreciationThis is the truth! 

Your ability to accurately estimate costs and efficiently manage renovations makes you an extremely valuable partner in any deal.

The concept makes a lot of sense but paying $700 a month to network is quite the cost/commitment.