Also, be sure to check with the section 8 agency managing the tenants - sometimes if you pass on an additional cost like that they will no longer be eligible to live there if the rent and utilities exceed what they were approved for.

So you have some great resources right off the bat, my additional Referrals would be too many :)

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Given my lack of experience in accurately assessing the additional costs and potential risks of investing in an AE zone, I felt it was best to step back and refine my evaluation process before taking on something like this.Thanks again for your input!

That’s the best bet.

Despite no additional renovations being necessary, our efficient strategy and swift turnaround led to a same-day sale at $225,000.

Regarding insurance adding additional umbrella insurance is great idea. 

I heard that you would need to get neighborhood approval in addition to the city approval... 

Additionally, be sure to have an accurate ledger and your signed lease agreement.

My biggest concern is managing additional units and tenants.