Hi @Josh Walker,Your lender local to Detroit must be using some homeowner's insurance premium "shouldn't come in higher than..." assumption(s) to qualify people because HOI is part of DTI.

Climate-controlled units commanded a premium, with asking rents of $271 per unit compared to $234 for non-climate-controlled units.

The only thing, you'll need to refinance later to get rid of the insurance premium because of the lower downpayment.

Hotel/Motel, Condo, Apartments all have had substantial rates because a lot of companies have either stopped writing the business or non-renewed it and the companies that will still write it have to take premium because of the risk they're taking on.I know that doesn't help you at all but my advice would be if you have an independent agent who you trust and like and believe they're doing the best they can for you stick with them and let them work all the markets for you.

What I would like in a premium service is:a) That the property manager is going to be very picky with tenants and have very high screening criteria.  

Their official reason to me was that based on the premium, they would not be profitable for this policy. 

Your insurance premium goes up…unpredictable cash flow.

Do people pay premiums to stay in one , if so, for what reason?

Are you all still including this coverage (Wind/Hail/Storm) and paying the premium for it or are you buying policies without Wind coverage?

It's my favorite niche as you have equity the day you finish and you have a premium product that people want to rent.