Can I use my current homeowner policy and just increase the limits?

If you can get your Vantage Score up 50 points, you will see positive results on the mortgage scores as well, it just may be 30 or 40 points or could be 60 to 80 point increase vs Vantage increase of 50 points. 

As well as financial statements.

@Rosette PooleRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

hi. try radiators on the bottom walls in every room except the kitchen. try increasing the rents. try talking to the clients about the heat situation. try removing the heated baseboards. do something before something happens to you!

There should be some financial advisors or real estate attorneys on here around your area who specializes in hospitality ventures and might provide valuable insights tailored to your situation.

I recommend you do this annually to adjust for utility increases and other variables.

This is where your focus should be, not buying section 8 rentals or focusing solely on increasing your portfolio by 2x, 3x etc.

It assumes the property is Class A - which not a lot of investors are acquiring these days.Here's some copy & paste info about property classes:_____________________________________________________________________________Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Fulati PaerhatiRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?