Faced with mounting expenses, extended timelines, and diminishing returns, we ultimately decided to sell the property instead of continuing with the BRRRR strategy.The Insurance Mistake:The biggest lesson I learned was that I had the wrong type of insurance.

I would continue with the STR in NJ.

Many banks securitize their loans (bundle them together) and sell the loans to Fannie Mae or Freddie Mac, while continuing to service the loans, that is collect your payment.

The main reason for this is to continue to do medical missions around the world  even when I'm dead.

(Not that it's likely to be worth a legal fight I would guess.)

Therefore, your financial freedom hinges on new companies continuously moving into the city, creating replacement jobs.Companies have many options when selecting a location to set up operations.

That seems like a more realistic result than just “talking to the bank” and having them agree to let the arrangement continue.

Although there are advantages to waiting too, such as if interest rates continue to drop.

The provider I am using allows for 60 days of continued coverage once construction. 

Still learning about how it works but this is my understanding today.We have decided to continue with this deal, due to the location of the property, the fact by licencing the extension and renovating the building we should be able to get a price increase from a buyer as a private home.