Not the cash flow play a lot of people expect. 

But if the permit takes a while (like the full 3 months), you’d have time to decorate the place exactly how you want.As for the bookings, if the permit gets approved fast, you could take over the current ones for instant income.

I've never seen 90% in 7 years of real estate, let alone in a market where the treasuries are at 20-year highs.

The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  

Thanks for posting this. 

Sometimes they forget to tell you that many tenants in Detroit don't pay (depending on the property manager skill and the type of tenant) - but taxes are very high in the city and so is insurance. 

I've been in the Philly market since 2016 and I do not flip.

And the rest of the gain will be deferred in the 1031 exchange.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

What did they say is the plan?