Quote from @Adam York: Contact your insurance provider and let them know you intend to rent out the home.

The BRRRR strategy, which stands for Buy, Rehab, Rent, Refinance, Repeat, focuses on long-term investment, while the Fix & Flip approach involves purchasing, renovating, and selling properties for a profit.Investing in Airbnb rentals presents a distinct set of challenges, requiring active management and a thorough understanding of local regulations, but it also has the potential for higher returns.Here is a concise overview of the advantages and disadvantages of each method:Fix & Flip:Pros.- Potential for quick profits - Enhances property value - - Adaptable to market trendsCons.- High risk - Time-intensive - Requires substantial capitalBRRRR:Pros.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Charge the tenants a higher rent rate and include utilities with their rent.

We increased the rent slightly after the first 24 month lease and were able to recently increase the rent when the first tenant moved out.Lessons learned?

Most times when evaluating a DSCR mortgage, market rent will come into play.

Give them a 60-day notice, then charge them a prorated rent for the additional 20-day extension.

Can you share the ARV and average rents for the property, along with the zip code of the property and the number of bedrooms? 

We were there looking for another property that we could buy together on the beach that we could rent out as a short-term vacation rental.We we're living it up and having a fantastic time zip lining, eating delicious food, and seeing the monkeys in the wild.it seems like from the moment I returned from that trip in August 2022 the real estate market completely changed.

The 10-year treasury is currently sitting at 4.62% as of 1/24/2025 up from 3.73% on 9/13/2024, reflecting a 23.8% increase over the last 4 months (Source).

If have investment property, we are looking for relatively updated units (we are ok doing some work ourselves), class C+/B tenants, with rents either close to market rate or that can be increased.