Before I jump into the cash required to operate which isn't given enough attention by most investors there are additional fee related questions a borrower should ask any prospective lender: Are the 3 points inclusive of loan doc prep? Are

Go to a lender that actually knows what they are doing and specialize in investor finance. 

Here's how I do my due diligence:1) Portfolio matching: (takes 30 seconds per deal)a) Have an educated opinion on where I think we are in the real estate cycles (financial and physical market cycles)b) Then and only then do I pick the strategies, capital stack, and specialized asset subclasses that make sense for that opinion.

Hundreds of hours spent listening to podcasts and reading books on and off during that time kept the dream alive and prepared me to take the leap when an opportunity came up.I had received my real estate license about a year earlier to make some extra money but we were hitting a point in our debt and near future expenses that I knew I had to step out and make something happen.

For insurance in South Florida, I’ve heard good things about companies like Citizens and some specialized providers that focus on high-risk areas.

It will certainly be a fun endeavor and I think one with a hint of specialness to it.

If you want the "best" rate, be prepared to pay for it.

Generally it's a mix between (a) spec builders, the type who specialize in doing in-fill lot's (b) investors, as it is a normalized flip strategy (c) owner occupants, especially in high desire neighborhoods, who are a-ok with taking on the project and even some are excited that they get to build a new home in often old neighborhoods. 

Just be prepared for potential vacancies.My advice is to build relationships with university housing offices.

NYC DOB considers a shelter a 'community facility with sleeping quarters' and may require a special permit for this use.Thanks Abel, You provided me with the right search terms to dig deeper.