You need a local/state specific lease.2.

@Dan Geffen moved down there and knows the area well if you want to connect with a local investor.

I am going to see if I can switch to a local Wisconsin insurance that reflects our local risk level in their premiums.Many of the homes in the Pacific Palisades are 3-5 million, but when you look on Google Street View, most are very modest homes from the 1960s (there are some $20m ultra luxury mansions too), so a lot is the land value, the home replacement value on a 1600sqft may be what - 500k at the most?

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

Need more information about local comps, the condition, and state of the market.

I’d love to connect with local investors and agents and, further down the line, with contractors when we’re ready to take the next steps.Looking forward to connecting and learning from everyone here!

Depending on your state, many have local lenders that will go up to 100% LTV. 

@Nick D.We are local to the area, I'm from Springfield MA.

I’m local and happy to connect if we can help. 

If so, self-managing properties might not be the best use of your time - In any case, I'd encourage you to talk to multiple local property management companies, keep the above in mind, and understand how they approach management.In my experience, property management isn’t just about finding the right tenant or collecting rent—especially in a tenant-friendly state like Rhode Island.