Without all the info on the property, it is hard to say if the $1800 is reasonable for a Dwelling Fire Policy.  

Research local zoning ordinances and regulations to ensure short-term rentals and accessory dwelling units are allowed.

First floor 3/2 rented at purchase to a family.Fully remodeled basement to become separate dwelling - studio.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.

Basically; there are loans for consumers looking to buy and hold a real estate dwelling as a "rental home" for the long term.

Recently, I have made the decision to wholeheartedly commit myself to this journey.My current plan is to invest in a multifamily home for house hacking in my local area or perhaps a single-family property with an unattached garage or basement that I can convert into an Additional Dwelling Unit .

In some states Accessory Dwelling Units are allowed through converting a garage.

Hello everyone,I'm a real estate agent assisting a client who is trying to list an Accessory Dwelling Unit (ADU) for lease on Zillow.

Not a great article. Basically covers what most of us already know about these major metro areas.https://www.dwell.com/article/rules-for-short-term-rentals-a...Worth a read to see how those regs came about.

Affordable turn-key multi-family properties do not exist, so very much open to the idea of a rehab/value-add to build instant equity.