I rented it by the room but then converted to a STR in Nov 2023.

Asset class, price point, distress vs turn key, cash flow expectations/desires, etc.

Oftentimes, we see inexperienced buyers missing key sticking points with insurance companies, and it derails their purchase.

Hi Everyone,I’m a newbie investor weighing some key decisions and would like to know how an experienced investor might approach this situation to maximize value and cash flow.

I personally like working with a broker because I know they are helping to vet the insurer and making sure that I am not missing key pieces of coverage.That said, from my understanding of the insurance markets basically different insurers like to spread their risk out across geography and asset class.

This includes understanding your budget, securing financing if needed, and determining what you can comfortably afford.Research is key.

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

The key will be maximizing your reach into off-market channels.

Instead of “cash for keys” you can just tell him to get out to avoid having to pay for all the damages.

The key piece of information missing here is what your rents, monthly P&I payments are and what you are actually cash flowing?