Insurance companies want to fix it the cheapest way possible, and their goal is to minimize out-of-pocket expenses like this one.  

A Title Company can distribute the proceeds based on the agreement, and consulting a CPA will help calculate tax liabilities and explore strategies like a 1031 exchange to minimize taxes.

, I really need to keep it simple and minimize risk since I live abroad.

I want to minimize my leverage as much as I can for my first one, just to give me the best chance of success.Got it, @Geoff Engel!

These offer a predictable return in the 4.25% range right now with minimal interest rate risk.

If you’re set on condos, ensure you’re targeting areas with strong rental demand and minimal HOA restrictions.Regarding an LLC, it’s great for liability protection, but it won’t necessarily give you tax benefits unless structured strategically.

I may have lost all my money and my car, but I can hang my head high knowing that I did it.I completed two flips 2,000 miles away without any prior experience.After every dark night, a brighter day appears.

If maintaining strong cash flow and minimizing risk are more important, Option 1 is the safer choice.Good luck! 

I happened to get lucky this year and had minimal expenses there.

You minimize your risk of violating Fair Housing Law or compliance issues using an experienced property manager.3.