This is bad math, once most people factor in their income tax bracket. 

If you ever want to discuss strategies, share experiences, or need additional resources, feel free to reach out.

There are markets that have built in "gotchas" like the rising cost of insurance in coastal FL, regulations in much of the west coast states and property taxes in Texas; however, the deal itself is the most critical factor.

So ultimately we decided to suck it up and not take on the additional equity, which ultimately required us to take more time on completing the needed rehab, however in hindsight it was a good decision, because even just among our own family there's been lots of dispute on what we want for the business plan and personal STR useage....

As JD said, the tenant must list the landlord as "additional interest" on the policy.

In addition, while the umbrella did not end up having to pay out, having it meant I did not stress about it at all.  

. #1 is the primary reason, but #2 does factor in as well.

On the positive side, it seems like you have a good potential BRRRR that you can use to purchase additional properties.

Yes, I use Zillow reporting as a start and look at other factors.

Detroit is appreciating rapidly, due to many factors, and it still cash flows or at least allows you to operate near break even.