Quote from @Dylan Webb: Hello, here's my situation:My wife and I own several properties separately.2 of the single family homes combined we have conservatively $150,000 in equity ($90,000, $60,000) I want to use one of these as collateral for a small loan of $30,000 to put down on a high cash flowing property OR have a lender finance the whole venture at a purchase price of $160,000.

Sadly, this price-gouging behavior has become the unfortunate new norm in the insurance industry.There's a high likelihood you'll need a broker familiar with surplus lines.  3 weeks isn't much time - if you aren't working with someone already you need to get in touch with someone asap.

Homeowner should have an adequate policy and you can use additional damage protection from services like Safely and Waivo.Yes, security deposits are normal for MTRs and highly recommended. 

  • High renovation costs.

•If there’s high competition (many active rentals in the area), you won’t be able to price at the top of the market since tenants will have plenty of options.3.

Highly recommend it!!

If not, it's highly recommended that you do.

I am a highly motivated individual, however, and I'm dedicated to getting into real estate investing.  

Highly appreciated.Does that mean I can deduct this loss from any rental profit from any of my properties or should it be just deducted from the same property income in the future year?

Many of these lenders allowing 2nds behind them are more expensive capital (10's - 13's in our current market [high rates - but now showing signs of coming down]).