Assets identified in this study include:Appliances: Dishwasher, microwave, oven, refrigerator, garbage disposals, rangesInterior Finishes: countertops, ceiling vans, vinyl plank flooringFurniture and Fixtures: shelving, built in cabinetry and decorative light fixtures, blinds, shuttersSpecialized Equipment: Electrical systems and specialized wiring, television connectionsSecurity and Communication Systems: alarm clock outlets4.92% of the total depreciable basis was classified as 15-year class life.

Thanks,  I couldn’t tell you specially if that’s too high or not.

New construction properties can qualify for significant insurance discounts, but otherwise, I generally expect insurance in this area to run a little over 1% of the property’s value if it’s in decent condition.Feel free to DM me if you’d like a good insurance contact to shop around for a better rate.

With Minoan you can discount that 20-25%. 

Of course you can get discounts for having certain items FULLY updated, like plumbing.  

There are also smaller brokerages that may specialize in this.Actually, that would be ideal.

You can find one that specializes in STRs. 

As a broker in a wholesale market, I "buy" a loan from a lender at a discount and mark it up for my profit.

Self managed HOAs are usually undercapitalized so you want to take a thorough review of the condition of the community to make sure there isn’t deferred maintenance because you might get hit with a special assessment if the board isn’t setting aside cash for those capital improvements.At face value, taking into consideration my typical financial objectives, I wouldn’t do this deal unless it was a much lower price.

Do to the state mandates that require 100% reserves in all categories, combined with the rising cost of their neighborhood insurance policy, my strong recommendation is you find out what further anticipated spikes in association dues & if any possible special assessments are looming.