Last week I received a letter from my insurance company stating they were going to discontinue my policy due to the current condition of the property (missing siding) and due to the fact that I am not currently living there (which is not true).I contacted my insurance broker and due to the fact my current insurance company disclosed the cancellation, they could not find another company that would insure the property.I just filed a dispute with the state.

Require Renter’s InsuranceNow, this might seem like overkill for just a room, but renter’s insurance is non-negotiable in my book.

I have been presented this same opportunity and I just want to make sure I have the right insurance. 

Also, the LLC does NOT eliminate any personal liability on the next loan application which is a popular selling point by ill informed DSCR brokers on this board (but they rarely mention the higher financing costs that come with financing in a LLC) IMO, proper insurance coverage is a better choice. 

Furthermore, during the rental period, expenses like repairs and insurance were deductible, but these deductions end when the property becomes a primary residence, with only mortgage interest and property taxes potentially deductible as itemized deductions.In short, converting a rental property into a personal residence can provide some tax advantages, but you’ll need to account for taxes on both the depreciation and the portion of the gain from the rental period when you eventually sell the home.

You're likely to have a massive escrow shortage if you escrow taxes and insurance. 

It was always....black swan event, interest rates never went this high, no one foresaw this, insurance and taxes are through the roof, not our fault.

The insurance companies are absolutely brutal.

@Randall AlanWhat kind of insurance do you carry if you have SFR in Florida? 

Most commonly in this area it would be for boats/campers.Specific insurance?