The loan is listed on the HUD and they provide lender's title insurance.   

- Unlikely $60/hour3) Even with all payroll taxes, insurance, etc., they are making a profit margin on that hourly charge.Another way PMCs usually make a markup on maintenance, is that they send you all invoices on their letterhead, or from a maintenance company they actually own.

The moral of this story is to have good home owners insurance!

Florida and Gulf Coast insurance should be a concern. 

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Some numbers:Expected 2026 income after raising rents to market value and assuming 7% vacancy: $144k.Expenses: $14k property management, $18k property tax, $10k insurance, $10k utilities, $8k in repairs/maintenance/advertising/admin/etc: Total operating expenses: $60kNOI: $84kBased on 6% cap rate that brings the valuation to only $1.4m, or $1.5m based on 5.5% cap rate.

With the purchase, the rehab, the closing costs and the holding costs (hard money, taxes, insurance, utilities) our all in is around $200,000, but we have created $40,000 in equity.

I guess it can save you some time managing, for example one tax bill, one insurance bill. 

They cited insurance reasons, which could very well be true, but many residents felt it as a big "f you" Now folks from outside the community could argue this was an entitled stance from the residents, to feel they had access to this private land when they didn't, and that on the face is certainly true.

I think your biggest issue with any "work-arounds" is going to be your legal liability and holding the proper insurance in case something goes wrong, which I'm going to assume you'd need to be properly licensed in order to be properly covered by insurance.