You should make "reasonable" efforts to find a replacement tenant.

I do have an umbrella policy to cover all my assets but that has nothing to do with what replacement cost is to having full coverage on a property.ThanksDaria

And, even if I did make enough to replace my salary, I'm not sure I would go that route anyway. 

All of the architecture, civil, and structural engineering is all complete and approved by the city.

Lend to experienced individuals who own other rental properties already6. 6/mo Payment Reserves: insure the borrower isn't broke and has the ability to repay your debt. 7. 100% Hazzard Insurance: make sure the borrower secures hazard insurance that at minimum covers your Loan Amount ie "replacement cost".

A set price per unit doesn't make sense to me because the finishes in a C class unit in a modest market versus a B class unit in a more upscale market could be MILES apart and cost VERY different amounts to repair/replace. 3.

If there's things you can save money on you can but if something is too far gone replace it.

I've had a career in engineering, banking, international insurance and real estate investing and loved all of it.

Your Acquisition Closer did have a passing in his family during this time and we replaced your caller that day, with one of our best callers, but you still found a reason to be dissatisfied, to the point of being very aggressive with the entire team.

We decided to replace wooden windows in a 2300sf flip we were doing, instead of rebuild them on a 1908 house.