Replacement cost coverage will be more expensive, but some insurance companies will only do that and not offer you other options.I think more important than which policy is the quality of the insurance provider and whether they will pay you out or not, or how easy they will and not fight you.

I think it is a great long term strategy.However, I am also a value investor and I follow Warren Buffet's methods and I only buy when I see value.

It's great to hear that the method works and can be used for multiple properties.What's the thing you remember most about investing in the first property?

I'm curious about using the BRRRR method and how the bank preapproves an investor with multiple mortgages.

The best contractors don't often go to Home Depot and Lowes as much as to the supply houses--they know the materials are better quality and usually less expensive than some of the 'second quality' stuff the box stores sell.Good luck.

My advice would be to spend time looking for high quality buyers who are able to buy many properties a year. 

@Julie NearingHi Julie  for the most part it all comes down to which method (operating as a triplex or as a fourplex) is producing more rents/income.

I know people use all kinds of methods and formulas and all kinds of acronyms to try to figure out if you're getting a good deal! 

@Michelle Ayala It sounds like around $7500 worth of repairs in what you listed, maybe more depending on quality of finishes.

When we bring in a subcontractor such as a plumber then we use the same method you use.