However, the homeowner insurance coverage can bit steep at times due to the natural disasters down in FL.

As you may know being local, SB249 is the bill that came up as a defense against towns like North Conway trying to shut down STRs, but it ended up in zombie state due to the sheer nature of diametrically opposed views on the matter and Governor Sununu’s push to do better than what the bill ended up proposing.Some details here: https://legiscan.com/NH/bill/SB249/2022As with all areas in New England I encourage investors to start thinking of oversaturated STRs markets as expense offset versus cash flow properties.

As a resident of the Gulf Coast of Florida (Bradenton) we just witnessed the strength of Mother Nature with the most recent passing of Hurricane Helene in the Gulf.

Lake Coeur d'Alene is a natural deep water mountain lake with an average depth of 125 feet.

Plenty of experience preparing multi state returns and handling things of that nature.

Natural to be nervous, but you need to embrace that.If location is truly great, learn to optimize the cash flow or be prepared to weather a minor cash flow storm.

CAP from my calculation is +10% so naturally I am going to scrutinize.

The nature of the remodel would make it somewhat hard to inspect if it was done right without being removed.

Modern lumber is also a lot more prone to termite damage as it is softer and easier to consume whereas old lumber is extremely resinous and naturally termite resistant.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.