Quote from @Zachary Engen: I just got 2 airbnb up and going last month and I have a property manager, he also gets MTR insurance bookings.

I reached out to an insurance broker today and he had indicated that we would need a constructions insurance policy for the renovation phase of the project.

(average of $400/m) $7000 annual expenses roughly- insurance, septic Mgmt, lawn care, etc.

Adding to this - any insurance agents here who can take the time to walk me through options rather than just send me a quote then harass me to sign pls message me :) 

Also - you probably wouldn't want to close on the property without insurance as you would also lack protection.What is the reason you can't secure insurance?

Being out of state, you will want an agent who has good relationships with reliable inspectors, title companies, contractors, property managers, lenders, wholesalers, insurance agents, other RE agents, etc.

Instead of using your personal income, employment history and DTI to qualify, a lender would look at the income or potential income of the property to make sure it cash flows after taxes and insurance are accounted for.

That's 5 months of profit gone just because the insurance company wants it done.

As we continue to grow doors, we're exploring the idea of purchasing renters insurance for our tenants and extending the cost to the tenant for a monthly fee.

@Aria SahaSave your $ and don’t transfer to LLC just get an insurance policy with umbrella policy