I have 2 rentals in SW FL- both have open insurance claims and a public adjuster is involved.My insurance policies renew April/May.

We have a parking lot, a dumpster, a few picnic tables, a small playground, a small dipping pool, and a "dog park," which is really just a fenced in grassy area.  

Hi Irene,I had a client that did this with a home and a barndominium next door. 

Seems like a big overkill - and to be blunt if you are new to real estate it is an overkill and a huge waste o f $

It also has a 1700 square foot finished basement, and a brand new 3 car garage, with 1100 square foot luxury apartment above.  

But it is very much applicable to single family rental and residential units simply by getting bridge financing and a post transfer cash out refi.

As more people placed more properties in STR inventory, and as more municipalities taxed and regulated the industry, the profitability of the overall industry has reverted to a much more aligned (lower) risk adjusted return.  

I've done and been a part of many Chicago zoning changes...they take a very long time and a lot of upfront money...unless you are planning to add multiple units and do a full renovation, the ROI is probably not there.

If you have a claim (and a pool is a ticking time bomb for a claim), your insurance company and their legal counsel will want you to provide all evidence of pool upkeep, including the grounds area.

For $10K and a lower rate I'd be willing to consider delaying...but only if I knew that lender two was solid on closing in a relatively short timeframe.