Insurance Proceeds: Generally, insurance proceeds received to repair or replace property damaged in a hail storm are not taxable.

We are paying $300k for the land and as a builder my costs are lower but let’s use retail so it’s safe. 900k build so a grand total of $1.2milIf you put 20% down and refinance in a year from now at 5.9 (realistic to me) that would be $24k net after taxes, 7% put for capex and repairs(it’s new), and insurance.

Target affordable rental options for stable tenants.

The insurance companies are absolutely brutal.

Depends on the laws in the state, but this is why someone needs to have RENTERS insurance and why every landlord should never rent to a tenant without them getting it.

The flood insurance will cover limited, structure may or may not the contents.

Research hot areas like Fountain Square and consider the stable rental market.

The reality is, rising property taxes, maintenance costs, increase insurance premiums (I'm a broker so don't get me started here), an HOA assessment or annual increase, etc, etc, etc.

I have a stable job, with a place to live and a way to get to work.

Hi Erin, I work for a property management company in Milwaukee, Wi, and here are some thoughts to consider: Vacation rentals- Pros: Higher Income Potential due to tourists, Flexibility, Shorter Tenant CommitmentCons: Inconsistent Income depending on demand and time of year, More Management Required, Wear and Tear because of constant turnoverLong-term rentals- Pros: Stable Income, Lower Management Effort, Predictable Expenses, Less Wear and TearCons: Long-term commitment (this can be pro or con depending on the tenant), Market Dependence The choice between vacation rentals and long-term rentals largely depends on your financial goals, management capacity, and the property’s location.