Expect to pay 4.5% once you account for village, town, school and county taxes. 

So I did not pay extra for it, but chose it anyway over other places.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

But you need to educate yourself and know exactly what the remedy is, or you may pay a huge expense for nothing.Any company that's doing a bid will video your line (no cost) so they can properly determine what the issue is.

You really don't need that LLC until you pay off the property and it's questionable if you need it then as long as you maintain your property and have correct insurance.Yes to wind insurance, not sure about hurricane.I use Foremost STR policy for one property.I am about to switch to USAA (retired Navy) for another because they quoted a policy that was 3k lower than what we have.

That is what we thought, but are being told we have to pay SS and medicare on this now even though it is "deferred." 

I obviously want to pay the lowest taxes over time.

Helo Bigger Pockets folks! 

If they failed to pay the bill and utilities are shut off, they are responsible for any damages caused.

My net number is rental income minus expenses(3 mortgages, paying power bill at all three houses, property tax, insurance, internet in two properties).