And yes, there is a risk that your rates would go up or they can drop you - but unfortunately, many insurers in that are may already be planning to exit the market or raise rates on everyone to make up for loses.One thing to note about a claim like this, insurance will usually pay for repairs to the damage caused by the problem, but not fixing the actual pipe that broke.

I will preface this with the fact that I have a legal background, specifically with estate planning and asset protection.

You have the mortgage, taxes, insurance, maintenance, capital expenditures (roof, flooring, etc.), and also need to consider the cost of vacancies or bad tenants.I also recommend you charge market rate, for yourself and the tenant.

Hey India if you use HML do you plan on refinancing?

I know I can get an insurance plan, but is it worth the headache?

I'm planning on flying over, just trying to gather info right now and trying to decide where to start.Have a great day!

Suggest you get your game plan in place first then go forward once you have the goal in sight.

I am starting out and planning to make my first RE investment in the Q1 2025.

It was a plan we came up with ourselves (no Internet back then) and it worked for us.

If you plan to invest in multiple states or require advanced asset protection, consult a CPA or attorney to explore options like a holding company structure.