I would love to hear a story of someone where they explain how insurance has helped them with their property.I am getting into out of state real estate investing this month and am curious to hear other perspectives.  

When you add purchase price, carrying costs for at least 6 months, materials, labor, real estate agents costs and taxes, do you have at least a projected 10% profit?

Equity Created: $550,000 ARV - $409,000 loan balance = $141,000 in equity.Cash Flow: The property rents for $2,950/month, covering all expenses and generating slight positive cash flow.HELOC Potential: Post-refi, I can secure a HELOC up to $86,000 (90% LTV) to fund future investments.

The company managing our property as a vacation rental was unable to get the power turned on in our condo for months because we had to get the meter switched into our name with the electric company (which is much more difficult to do in CR than in the United States).

So I figure, if it makes $400 more per month, I'm looking at 4 year payback on the renovations with the risk of some other repairs down the road, such as furnace.

I think they contain solid information and will help lay a good foundation as a beginner (Haha, I'm completely new to real estate as well, btw)I'm also going to be reading the following books, and hopefully I can finish all by the end of this month:1) The ABCs of Property Management2) The Advanced Guide to Real Estate Investing3) Long-Distance Real Estate Investing How to Buy, Rehab, and Manage Out-of-State Rental Properties (this might be the most important one to me personally)4) The Book on Investing in Real Estate with No (and Low) Money DownIn addition to reading, I'm consuming crazy amounts of youtube videos, and I'recommend you do this as well.

That’s without my labor, I finished in 8 month, so let’s say 40 hours, at my minimun I used to charge was $75 and hour.

I did all of mine several months ago as they are single member LLC;s and I already have to go through fingerprinting, background checks for my NMLS license as well as audited financials for our fund.

But keep in mind that there might be some delays in getting payments started, particularly in the first month or two as inspections are completed and paperwork is processed.

The property is located near two colleges, so I’m focusing on student tenants and planning for 12-month lease terms.Do you have any tips or advice for renting by the room?