Assume a couple of months of vacancy, consider potential unexpected repairs (like HVAC or plumbing issues), and test the numbers with rents dropping by 10-15%.

I should also mention we shut off the breaker (to the garage) after confirmation from two electricians and our contractor that we had a serious fire risk.   

That said, realistically, I don't think you can go below the 6% - 6.5% range.One question I would ask is if that 3% can be better spent somewhere else to de-risk your deal.

The neighborhood has been flourishing, making this incident highly unusual.What initially drew me to the property was the potential for high rent and strong cash flow.

Hi Daniel,Refinancing out of a high-interest bridge loan can be challenging, but you have a few potential options based on your equity, tenant situation, and FICO score. 

There is risk with any investment, anywhere, but airbnb does well here - if you buy the right place.Locations: this is important.

First, estimate what the renovation would cost, how long it would take, and how much extra you could potentially sell the property for once it’s fixed up.

Whie DOS lender risk may or may not be high, being ininsured is... well, enjoy your 'asset protection'.

Smart investors first focus on finding quality properties—such as those in thriving areas of Brooklyn or potential neighborhoods around Manhattan—and then reverse engineer the process by improving management, optimizing rental structures, or enhancing facilities to make it worthwhile.

My team at Graystone Investment Group works with investors to handle the whole process—finding solid deals, managing rehabs, and long-term property management.I get why you're looking for options closer to home, and Florida has a lot of potential when you find the right markets.