They also have blanket insurance coverage which is much lower then policies in Philadelphia.

He may realize the offer he had was inline with the value.

The Midwest, including cities like Detroit, offers some of the best opportunities for affordable properties with strong rent-to-price ratios.

We have had a pipe burst during the cold winter months, the roof needed to be replaced (thankfully covered by our insurance), and some issues with electrical, which hasn't been majorly updated since it was built in 1973. 

We use Hiscox for our insurance with our business, not sure if it works for property but its worth a try. 

It’s a city I know well because I built a 12-door portfolio there between 2019 and 2021.Detroit offers a lot of value in terms of affordability and rental demand.

From sourcing turnkey rental properties to finding long-term residents, and comprehensive property management, our expert team offers a full-service solution for a truly stress-free investing experience.

While these loans make it easier to buy a property, they come with challenges:- **PMI Can Be Costly:** With less than 20% down, you’ll likely pay $150-$300/month in private mortgage insurance.- **Interest Rates Can Affect Refinancing Plans:** If rates increase, refinancing to remove PMI or lower payments may not be an option.- **Scaling Can Be Tricky:** FHA loans are typically for primary residences, meaning you’ll need to strategize if you plan to purchase additional properties.Thinking through financing options and backup plans before you buy is essential.### 5.

.: Quote from @Andrew Steffens: Curious what is the purchase price and taxes/insurance/HOA?

As far as the insurance claims, I've had many.