Quote from @Jason Malabute: If the insurance payout ($380K) exceeds your adjusted basis (original purchase price + improvements - depreciation), it creates a taxable gain. 

Once you're ready, create a goal (e.g., "I will buy at least one single-family home, duplex, triplex, or fourplex before the end of 2019") and then do it.

Waivo and Furnished Finder partnered to create a unique product just for MTR.

Although, I am an advocate of documenting and creating systems, in the first few years all of your systems are going to change many times and so are everyone's roles within the company.

I do recommend creating (and keeping updated) written policies for all of your leasing and screening process, and making them available to folks during the application and screening process (talking about, sending links to, emailing, & reminding, the more times they see it the better even though they likely won't read it).

Quote from @Jay Hinrichs: one  way i know to replace 350k a year with 750k is to build new construction and sell it.we pretty much double our money COC with new builds within 12 months.So you pay cash for the lot  get a construction loan and the hard part is going to be a GC you know and trust.. sell the house double your cash on cash or better.. pay your tax and keep going.Or invest with a developer and do value add by creating building lots those are easy to 2X or better more risk though.

I would like to know if I could create cashflow from a studio apartment across from the beach.

To remedy this for next time I am in the process of creating a design board that can be used as a base for future flips.

App=Spart...If you need a tool to run your deal I have created this free tool that you can use btwhttps://real-estate-tools.com/real-estate-deal-calculator/?

Check out FilePlace, where user-created forms are available for free.