It’s easy to find tenants, population/jobs are increasing, and property taxes/insurance aren’t skyrocketing. 

Because I’m unable to obtain an insured title for two years, I did not plan to invest in this property until then for risk of losing my investment.

Real estate investors often find themselves working with many providers between insurance, financing, property management, tax preparation and strategies, etc.

Our insurance policy for the project alone was well over $100k. 

I’m a Colorado commercial insurance broker and have a lot of carriers available in my agency.  

Some strategies to lessen the negative cash flow are: house hack and rent out the other unit as a mid-term rental (to traveling professionals or for people temporarily displaced because of insurance reasons like fire) or short-term rental (business or vacation).

Asking an attorney if you have enough legal protection is like asking an insurance sales guy if you have enough insurance.

Did you ever find out more information about insurance and liability?

Effective December 1, 2024, ownership of the property has been transferred from Michael Anderson to Electric Sage Brush, a limited liability company.All terms and conditions of this lease agreement remain in full effect, and all payments, notices, and correspondence should henceforth be directed to Electric Sage Brush LLC at the following address:2001 Space Odyssey Dr, Cody, WY 82414This change in ownership does not affect the tenant’s rights or obligations under the lease agreement.All parties sign to confirm the change.

It’s given me the opportunity to save and prepare for my next upcoming purchase.I’ve gotten the units from $750x2 and $800x2 to a consistent $900. current mortgage is $2500 monthly, refinancing to a conventional and removing mortgage insurance should bring me to $2100.