I provide to the insurance agent the breakdown in this instance $185,000 (purchase) and $40,000 (renovations).How should I best communicate to the insurance agent how much property insurance that I want (and communicate it in such a way that they he/she clearly understands)?

RESPA and this part apply to federally related mortgage loans, except as provided in paragraphs (b) and (d) of this section.

Our goal is to provide tenants with some suggestions as to how they can arrange for new ways to locate their things (storage facility, city yard sales, arrange for hauling service, etc.)

I have been using Tenantcloud to manage my 40+ units and so far I was satisfied from the features they provide for $144 per year.

I'm in the Metro Detroit market and would be happy to help guide you through the city remotely, provide you with resources and answer any questions you may have.Feel free to reach out anytime!!!

I understand that RE agents provide a lot of value to their clients and they have their expenses, etc.

Like for me I have a business I enjoy that produces active income I don't see myself stepping out of anytime soon, so I am prioritizing the nicer areas/properties that might not cash flow as much right now but will in the future and provide me with good depreciation to offset active income right now.Just such a personalized thing that doesn't have a one size fits all approach.  

However, the examples you provide that “changed your mind” about success of absentee business ownership are either not business ownership but real estate ownership, or not absentee but multiple unit active management.  

I think self management would be very doable for you and your spouse provided you either buy decent units or get them renovated quickly minimizing the need for time consuming repairs.

I would love to connect with you and see if I could provide value.