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

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

I hired a public adjuster after Hurricane Michael and was able to get almost 3 X what my insurance company wanted to pay me.

Well, once I started the process of buying I was quickly introduced to the importance of title insurance.

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

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. 

Adding taxes and insurance would be an even higher payment. 

It is always better to start with a multi-unit 2+ so that if something goes wrong, you still have one tenant to cover necessary expenses (mort, taxes, insur, etc).Also, major renovations are not a great idea for starting out as others said, especially out of state.

Luckily electricity prices have been much more stable…In 2009 our rate was 11.2c per kWhNow it’s 13.1c per kWhThat’s 17% in 15 years.

You will only be entitled to the deductions directly tied to the property, such as interest, taxes, insurance and maintenance.