Creating an LLC and getting insurance on rental are two methods of "Asset Protection" that most real estate investors use to protect themselves and their assets. 

Security systems are easily outsmarted, that’s the point of the initial visit, to case the joint. 

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years. 

So, something to think about.Next, what methods have you used to determine what kind/size of property to purchase? 

Nothing you mention is "ordinary" and you should charge for all of it. dodged a bullet there thats a very good price take it from the security deposit and call yourself lucky. 

Here are some key elements to include:Lease Agreements: Ensure your contracts reflect the latest laws, such as notice periods for entry or rules around security deposits.Fair Housing Compliance: Familiarize yourself with federal, state, and local fair housing laws to avoid discriminatory practices.Property Standards: Regularly inspect your properties to ensure they meet safety and habitability standards.Tax Documentation: Keep accurate records to comply with tax reporting requirements.4.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Depending on your debt to income, you might have to sell or have an executed lease to secure financing to buy the second home.

Using a HELOC or home equity loan on your personal home could be a good option, especially if you can secure a low interest rate and manageable terms.

To combat this: market the property well, be transparent, secure a great flood insurance rate so a buyer can know the cost and be able to transfer the policy.5) no flood zone AE does nothing to rental rates6) if the insurance rate seems high then get a flood cert and maybe it will decrease.