Back home I would make a packet for my appraiser and never had a bad appraisal due to the that I specified the value add and the Reno amount and broke it down so they saw the potential and it always worked.  

Miraculously, I didn’t lose my shirt, but I broke even on one house and, due to other circumstances, had to walk away from another.

And yes, there is a risk that your rates would go up or they can drop you - but unfortunately, many insurers in that are may already be planning to exit the market or raise rates on everyone to make up for loses.One thing to note about a claim like this, insurance will usually pay for repairs to the damage caused by the problem, but not fixing the actual pipe that broke.

I was broke and didn’t know what to do.

I've been on at least a half dozen posts on BP where people try to explain-away the fact that they broke the law. 

Lisa Sturtevant, a Chief Economist at MLS, had a great post on LinkedIn about this that broke down the current listing data: Linkedin Post LinkWe have been in a sellers market overall the last few years due to the "lock in effect" causing historically low inventory.

For the most part, the guys and girls at the ground level are still great and focused on what they do! 

So I broke these up specifically based on numbers and property values, trying to avoid anecdotal bias .

If you are broke and trying to quit your job asap, the answer will be much different than what an acceptable answer would be for a professional investor who is a multimillionaire.

I tried to rent one of these buildings for a developer. it was brand new construction, really well done.One after another is was voucher applicants who had criminal records, you had no idea who was actually going to be living there, some were high out of their mind and/or drunk, average credit score was 500, consistent late payments, eviction records, etc.By some miracle I rented one place out to 2 young girls looking to save some money.