Speak with a lender now to understand your options and start building a plan.

I'd be happy to provide some recommendations and suggestions for your situation as a foreign citizen living in Miami.First, it's important to have a good understanding of the local real estate market, including pricing trends and neighborhood dynamics.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

For context, this would be for a property I already own.I understand this may be a bit unconventional and people will likely recommend I get a proper quote and have the contractor do a full walkthrough.

I had started a meetup that was getting a solid build up, but unfortunately, Covid hit and I had to stop it.

I need to understand how much this would impact the ARV before making a decision.

Hey @Grant Woodward, you can never be too cautious when it comes to guest safety like @Lauren Kormylo said.There are dozens of things at your STR that could cause an injury or worse so making sure all the ducks are in a row and quackin' in unison is one of the most important things you can do.Like @John Underwood said, make sure you have a rock solid insurance policy that covers the pool and adjoining areas.

If there hasn't been an adjustor to the property yet, a coverage determination letter sent, or you feel like you haven't heard much from the claims team, I want to make sure I understand what gave you that impression.Again, I'm so sorry you've been impacted and I'm available directly to help in any way.

I've seen many investors get burned because they failed to understand their hard money loan terms/rates, even if they did acquire what should have been a home run deal. 

As far as building homes goes that is something I would like to get into down the line l, I’ve been doing construction as long as I’ve been working I would just think I would have to build a solid portfolio before even getting into that.