@Michael HoustonSo cap rates are for commercial properties so they have no use in 1-4 unit values.

What’s your occupancy rate during peak and off-peak seasons?

We invest in some deals because they meet our Hurdle Rate/Return on Investment objectives. 

My umbrella policy just sent me a non-renewal because Steadily is underwritten by Fortega which is not at least B+ rated. 

First thing I'd do is check comps to get an idea of the demand and rates you can charge for your condo as a MTR.

As-is cap rate of 7.5% in my market (kc) would be pretty awesome to buy. 

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. 

I've also held of holding properties in individual LLCs that are owned by one S corporation, which allows for a 60 / 40 split between ordinary income (regular tax) and dividends (capital gains tax rate).With the goal of minimizing taxation and liability protection, what would be the recommendation from more experienced people here?

Quote from @Roger Flot: I was reviewing some renovated listings in my area and one indicated that even though the house was originally built in 1920, because of all the renovations bringing the house to current code, that you could get 2024 rates on insurance. 

It's objectively rated as a great place to live, but obviously you need to be ok with Winter.