Hi,I need some guidence.Insurance premiums are beyond ridiculous here in FL.What alternatives are there besides full coverage on a rental with no mortgage/note?

Part time agents will get flushed out, good buyers agents will charge a premium, and things will be ok.

Interest rates and insurance premiums are breaking some deals.For your cash flow estimates you should double or triple your estimate for insurance and see if the deal still works for you.

Rincon is a beautiful place, but oversaturated with STRs and properties are going at a premium. 

It's amazing how many people are willing to pay that premium to have the flexibility.

In Orleans you pay a portion of taxes as well as a premium, plus the price.

Lender Fees $1,640.00Discount Points $4,680.00Appraisal Fees $825.00Credit Report Fee $25.00Tax Service $68.00Credit Technology and Verification Fee $75.00Title Fees $836.50Owner's Title Insurance $513.00Lender's Title Insurance $2,507.00Transfer Taxes $9,626.00Recording Fees $519.50Total Closing Costs $21,315.00Prepaid Interest 2 days @ $87.53 /day $175.061 year Insurance Premium $1,500.00Property Taxes $3,632.04Insurance Escrow Reserves 2 months @ $125.00 /month $250.00Tax Escrow Reserves 2 months @ $302.67 /month $605.34Total Loan Prepaids $6,162.44Down Payment $90,000.00Total Estimated Due at Closing $117,477.44Loan ProgramPurchase Price $450,000.00Total Loan Amount $360,000.00Interest Rate 8.875%APR 8.337%Product Indigo Edge NonQM 30 Yr FixedYour Monthly housing breakdownPrincipal & Interest: $2,864.32Insurance: $125.00Taxes: $302.67TOTAL $3,291.99

Taking action today that involves a significant hit to your credit score could increase your auto / homeowner's insurance premiums and increase the interest rates for new  loans for an auto or property, etc.In fact, some opportunities may close to your altogether.

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@Nicholas Olson- thanks  1)  fyi - there are conventional loan programs that allow you to put 5% down on a 4 unit if you plan to live in it - consider this as you can avoid the  fha upfront mtg ins premium and also  avoid the permanent FHA monthly mtg ins   2) avoid  renting the unit you state you will be residing in as this sounds like a problem waiting to occur