Also - you probably wouldn't want to close on the property without insurance as you would also lack protection.What is the reason you can't secure insurance?

Instead of using your personal income, employment history and DTI to qualify, a lender would look at the income or potential income of the property to make sure it cash flows after taxes and insurance are accounted for.

Adding to this - any insurance agents here who can take the time to walk me through options rather than just send me a quote then harass me to sign pls message me :) 

I reached out to an insurance broker today and he had indicated that we would need a constructions insurance policy for the renovation phase of the project.

That's 5 months of profit gone just because the insurance company wants it done.

They can help you navigate local tax obligations based on your income sources and property ownership.While taxes are definitely a factor, don’t let them be the only one.

I would involve your insurance company.

Whether it's Airbnb, VRBO, FF, Zillow, FB, direct booking website, insurance relocation portals, databases from MTR operators who get a lot of insurance/corporate leads, CHBO, etc.The MTR space is still quite young, unlike STR. 

@Aria SahaSave your $ and don’t transfer to LLC just get an insurance policy with umbrella policy

As we continue to grow doors, we're exploring the idea of purchasing renters insurance for our tenants and extending the cost to the tenant for a monthly fee.