If they won't let you build on it, explore doing a lot tie agreement so that you can combine the parcels and when you go to resell it, you can ask for a higher price point based on the large lot.

If the Ensuing damage is also not covered, the total loss could be vastly higher.  

Many pay to much for their needs as they go for high profile CPAs who are targeting working with "higher profile" clients.

We found two contractors and the bid we received to finish the work were higher than the bid we contracted to complete the entire rehab! 

So really to have a higher chance at success you should have both money to put in the deal to lower your leverage AND money on the sideline to cover those potential cap ex projects. 

Essentially it was necessary to "buy" cash flow with a higher down payment. 

You will be able to get higher leverage, better rates, etc once you have more experience!

Quote from @Aaron Letzeiser: Quote from @Mohit Gupta: @Steven Toth I was actually able to find multiple carriers who would insure for a slightly higher premium, which I am happy to pay.

You just may end up paying back a higher interest rate.

It’s a longer-term game, though, with higher upfront costs.I’d say spend some time researching your target area and connecting with local investors or meetups—they’re goldmines for market insights and networking.