In speaking with our insurance agent, we decided not to make an offer.

Understand the local permitting requirements, keep eyes on your property to avoid squatters, and make sure you have a great vacant insurance policy while you're renovating.

This ensures a clean transition of ownership and responsibility for insurance purposes.

@Chungying ChuIf you want more liability coverage, ask your insurance company if you can increase it.

I’d love your input on whether this deal could appeal to investors and how best to structure it.Property Details:Worth: ~$300,000HOA: $273/month, Taxes/Insurance: ~$170/monthCurrent Rent: $1,880/month (long-term); next tenant advertised at $1,950/month.Mid-term rental potential: ~$2,400/month (I haven’t tried this, but it’s my estimate).My Financing Idea:Large down payment: ~$125,000 (This is my priority to reinvest elsewhere).Seller-financed balance: ~$175,000 at 4.25% for 30 years.Buyers take over taxes, insurance, and HOA.Questions:1.

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

It might have been bound but many insurance companies have put those new policies on hold if the purchase has not happened due to the disaster and letting the mortgagee(lender) know that the policy is on hold.

Quote from @Mike Donovan: Found this thread as I am researching Landlord insurance as it relates to student housing.  

Florida and Gulf Coast insurance should be a concern. 

It’s cash flowing about $50/month after everything (PITI, flood insurance, home warranty, excess liability & termite protection) - if I got ride of termite it would cash flow $125.