Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut.

Along with the dwelling unit described herein, the Premises include the following: (i) _____ Storage Locker; (ii) _____ Parking space(s) (Identified as _____ and containing _____ parking spaces (also see Section 9 below); (iii) _____ Garage (Identified as _____ and containing _____ parking spaces and _____ transmitters (also see Section 9 below).

This location is in a 1mm population metro area, 230 units, and cost is about $1,800,000 all in.Limits of Insurance: Coverage:Liability and Medical Expenses$2,000,000/$4,000,000 Occurrence/Aggregate Comprehensive Business Liability$2,000,000 Any One Person Personal & Advertising Injury$4,000,000 Aggregate Products Completed Operations Aggregate$2,000,000 Any One Fire Fire Damage$25,000 Occurrence Customers' Goods Legal Liability Deductible: $0$25,000 Aggregate Sale and Disposal Liability Deductible: $1,000$10,000 Any One Person Medical Payments $1,000,000 Occurrence Hired Non-Owned$300,000 Each Employee Employee Benefits Liability$25,000/$25,000 Per Claim/Aggregate Employment Practices LiabilityLoc Class Desc Coverage Limit Ded Valuation Type 1 Self-StorageBlanket Building & Business Personal Replacement Cost Property $2,100,000 $25,000Earthquake IncludedSinkhole IncludedWindstorm or Hail Included 5%Business Income Actual Loss Sustained 24 MonthsPollution Clean-Up & Removal $100,000Employee Dishonesty $15,000Money & Securities - Inside $10,000Money & Securities - Outside $5,000Accounts Receivable $25,000Electronic Data $20,000Valuable Papers & Records $25,000Fine Arts $10,000Employee Personal Property $10,000Limited Pollutant Removal $25,000/$100,000Cosmetic Loss Limitation IncludedEquipment Breakdown Protection IncludedPremium, Fees, and Taxes: BOP Premium: $ 7,760.00Optional Terrorism Premium: $ 31.00Total Premium: $ 7,791.00Key notes:a.

I have 8 long-term units, 3 mid-term units.

I'm currently adding all of my numbers for a 20-unit apartment building in for a test, and then I'll bring my other 90+ units.

lol not sure what I am getting into this year but always looking. really trying to grow the unit count. i probably won't do a flip.

The first unit does have a booking through VRBO.

@Sebastien Tinsley Just copy & pasting this from thread I replied to for another young person looking to startWith little experience, it's better that you invest locally vs OOS - unless you want to invest a LOT of time learning another market and networking with th right people.Locally, look for a 2-4 unit property that will qualify for FHA 203(k) financing.- This will allow low down payment and the 203(k) allows repairs to be financed into the purchase mortgage.- The 203(k) will allow you to bid on properties that need repairs that won't qualify for a traditional mortgage => less competition => better purchase price.You will need to find a great local contractor you can trust to supply the required bids to qualify for the 203(k).- After closing, you can do some of the work yourself to save money, but the program doesn't allow you to pay yourself.You will want to buy a Class B property, maybe Class C+, in an area that seems to be improving.

I want as many cash flowing units as possible on that sweet sweet 30 yr fixed sub 5% debt.

Are you planning to rent the entire unit at the 2nd year mark?