I had a similar strategy with my first few house hacks: buy in great A & B Chicago neighborhoods....get by with minimum cash flow, and wait...What's your plan for the next purchase Michael?

I imagine that the list is short and full of risk.

I obtained the umbrella policy through their "agency" which finds other carriers for their members.

I believe after the holidays the other unit will go quickly.What is the rule to refi into conventional loan?

San Diego is the best!

Quote from @Kwanza Price: Thanks Chelsea for your reply.I mostly wanted to understand what the experience was like and if you have any advice for setting up an LLC/IRA?

Quote from @Duane Williams: We’re a family-owned fix-and-flip company operating in San Antonio, TX, and Northern Virginia, managing everything in-house—from wholesale acquisitions to rehab & construction (with our own project managers and crews) to listing & selling through our licensed brokerage. 

They list properties on their own site, plus Airbnb, VRBO, Booking.com.

Here's the link to their website: www.stayhikaru.com

In terms of renting it out - we saw the unit was offline on Zillow and other listing websites depsite the fact it was supposed to be on, and we were the ones who notified them of it.