I am in the process of shopping for an insurance company for a rental property here in VA.

Has anyone had any experience with this process?

The process protects both their system and users against fraud and aligns with banking regulations, especially given the financial data involved in property management.

Key points include:Security Deposits: In Indiana, there’s no legal cap on security deposits, but you must return the deposit (minus any valid deductions) within 45 days of the tenant vacating the property.Evictions: Follow the formal process carefully.

Repeat: Scale Your PortfolioThe final step of the BRRRR strategy is to repeat the process.

They listen to what you suggest and continually improving their software and processes.

Addicted to the process not the end result! 

In that case, would the renting process be a bridge to help you retain the home for future personal use? 

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

Do you use any tools or services to automate the process, or is it something you manually handle?