Make an insurance claim and buy all new stuff.

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

Right after I closed on that one the insurance company demanded I make a couple thousand dollars of repairs.

Rents may be high, but where are taxes and insurance.

the way to go about it is turn it over to your insurance and get the police report.. sometimes insurance will then subjugate the claim and go after the tenant criminally I had that happen on one of my rentals where the tenant did 40k in malicious damage on a new construction home I purchased in MS. 

I lived in Madrid, Spain for about 8 months and I am curious if it is possible for non-residents to successfully have rental properties within the country.My concern is mostly from a tax standpoint and whether it makes sense.My research shows that Non-residents of Spain(but a resident of Europe) pay a flat rate of 19% on NET RENTAL INCOME.Non-residents of Spain(Not a resident of Europe, such as the USA) pay a flat rate of 24% on GROSS RENTAL INCOME.The difference of paying tax on Net and Gross is huge.Americans are not able to deduct expenses such as mortgage interest, taxes, insurance, cleaning, repairs, etcA pro that I can think about when it comes to invest in Spain is that overall costs are less - Mortgage rates are currently around 4% - 4.5% while it is around 6.5% - 7% in the US.Am I reading the tax law correctly?

I won't be investing in the riskiest/most supportable asset subclasses such as hotels, and tilt my portfolio the ones that have historically been more stable such as multifamily and single-family housing.

A property manager who fosters a positive relationship with tenants can create a more stable, low-maintenance rental experience for the owner.Expectations can definitely vary by property type or asset class.

Should the Owner require the Manager to make unscheduled visits to the property(insurance proposes) above and beyond the duties outlined in this Agreement, a fee of $75 +GST will be charged per visit.Thoughts??

But IRS allows an IRA to be invested in anything except life insurance and collectibles.