The premiums didn’t make sense compared to the other options I found for the two properties I moved off this policy, nor did they align with the rates I have for other properties in my portfolio that are not on this policy.I’ve shopped this policy extensively across multiple companies and brokers.

We weren't super happy with anything we were seeing on the market, so my husband and I had just started writing letters and looking off-market... until we saw this property.It'd been sitting on the market for months.

The whole thing seems a bit off to me.  

Sure don't do the renovation, rent it for 200/m less, and maybe that 30k investment won't pay off until year 10, but you're still investing back into your property, improving it and adding value.

And there are lots of conventional loan programs where you can put down <20%If it were me, and I was committed to purchasing, I would try and land an off market property needing a bunch of work and force appreciation that way.

Also, networking with local real estate agents and attending meetups in those areas can help you find off-market deals that might not be listed online.Have you considered specific states or cities for your investment?

What started off as primarily a second home with the possibility of short term leasing quickly flipped to a STR first and a second home when not rented because demand is so strong right now for STR's in this area. 

Quote from @Jeff Roth: Hi Lina from Texas-Congratulations on your interest in investing in mid-term rentals and you are wondering how and where to get started.I get this question frequently from investors.Sometimes and investor is looking to keep their property cashflow positive as insurance and taxes have squeezed cashflow by turning units into mid-term or short-term rentals.First off, ideally, the property will cashflow as a long-term rental should something disrupt the mid-term rental model.You will also want to have the property be near where there would be a demand for mid-term rentals (hospitals, universities, research centers).Monthly rents for mid-term rentals are about 20% (+/-) higher than unfurnished similar long-term rentals.There are property managers that will manage mid-term rentals for you and I always advise my clients to use property managers to keep their investment as passive as possible and for compliance issues related to Fair Housing Laws and local regulations.To Your Success! 

Bunch of realtors come on a spout off that their clients cash flow from day 1 all the time.

How do you write things off?