Get paid for it!

My assumption is that it still will be better to purchase in my name (better loan terms, ability to put 20% or less down, and I'm already pre-approved) and move to an LLC, but this seems like a steep cost of doing business.

pretty small hurdle to have a good win as a private lender just get paid as agreed.now equity participation loans those can spin the needle pretty well ..

Paola, it sounds like you've done a great job building equity in the property, and the renovations have definitely paid off!

Most states allow you to hire your own adjustor to come up with your own damage amount and then argue with the insurance company about.The insurance company will want to see the signed lease, proof of funds the tenant paid and confirmation the utilities were on and preferably in the tenant's name.

It has sat empty for the last 20 years but the current owners have completely gutted it, have bids from contractors they're willing to share, cost estimates etc. and have had lots of inspections done and so much pre-work with the city and county to figure out what they can and can't do, so a solid plan is already in place.

Yes, I have signed up and have a paid membership.

No way it's paid off in 5 years.

I’m going to share some of my thoughts when I talk to new investors;Are you pre approved, and for how much? 

Here’s a BP blog for more info on this - 9 Vital Questions to Ask When Vetting Your Real Estate Investing TeamNo property ever paid the rent.