You can try and fight it but does not mean you will be successfulI would also be curious to see what your property insurance looks likeFor me this is just another example that home prices are gonna eventually have to soften as between taxes, insurance and Interest rates home affordability is very challenging

Household Debt Rose by $184 Billion in Q1 2024; Delinquency Transition Rates Increased Across All Debt TypesMay 14, 2024

@Mike Donovan I would recommend finding a local insurance broker to get the best rate to fit your needs.  

- Each Housing Commission sets their own rent rates, based upon market rents for Class C properties in their area.You should be able to find an online list of S8 rents per bedroom for your area.

Here are the pros as i see it: easy (no purchase necessary, you know the property), likely prop 13 property tax discount, possibly below current rate loan.  

And now with rates being high, plus many areas overbuilt with new apartment buildings, I’d be careful with unknown areas, and also what you read in the media about “hot” areas, up and comers, etc.I was in a similar situation to yours a couple years ago.

With that comes different exposures and risks that they need to properly rate for.

to be clear - lots of other issues, lots of other challenges, and BRRRR is difficult right now with interest rates so high. 

If you can get your direct deposit moved against your heloc right away, and then you do not have to pay bills instantly, you are leaving your idol funds offsetting a 7.5-8.5% interest rate.

I have a condo in Connecticut that generates a cash flow of about $750 a month, and I have approximately $130,000 in equity at a 3.25% interest rate.