Most of my clients buy strong suburban with better cap rates and low prices while still getting investment grade tenants.There can be some valuable land plays in both strong suburban and urban core areas.Ability to rebuild will depend on quality of the insurance company and policy and what they try to exclude.

Excluding retirement funds I have set aside $300K of investment capital to start.

If you look at the manufacturer recommendation they wont guarantee some of this equipment after a specific age, that released them from liability, the insurance will flag some of this items because of the age as well and they can exclude or prorate coverage.

10% of rent)Granted some expenditure above is subjective, but you still need to set it aside and this excludes servicing your mortgage.

This way most things are covered, who is responsible for insurance, marketable title wording, septic inspections, type of financing, items included/excluded, utilities on/off, who owns a propane tank if there is one, gas and mineral rights, certificates of compliance/occupancy blah blahI of course would then ensure my clients interests are preserved with the right checks and a good number of days for contingencies that work in their best interest.

I'll gladly take a look for you and give you an assessment of the code section but I can tell you from experience that RVs are pretty well always excluded from any form of habitation, long or short term inside City limits.

So, Longer the house is personal residence, more you can exclude later when you sell it. 

Most of our properties are in the North metro and I I like Fridley and would not exclude Fridley from potential cities.

@Jenny Adel you just said it’s an SFR and the first line of the regulation yOU QUOTED spECIFICALLY excluded SFR’s.

Regardless of it being included as living square feet it may NOT be excluded from use by family.