Most insurance professionals can provide a good policy for a traditional single family rental, but for any complex or complicated portfolios, you need to be working with someone who has specific expertise for the REI market and client.Cause of loss form: There are three categories of coverage; Basic, Broad and Special.

If you can spend around $15K to get around $1800/mo compared to $60-70K to get "MAYBE" $2000/mo, I would def take the first choice of the two.

We've been considering a similar play here in Georgia, so I'd love to compare notes!

Take into account RE taxes, Mortgage interest, charitable donations, large medical expenses, ect...compare it against 2017's total.If you took a look against the rental but used the proceeds for personal use- IE to pay off your personal residence the interest would not be deductible as a business expense. 

Real estate can make it go faster if you do it right but it should still take 10-15 years as compared to the normal 30-40

@Jared Carpenter every deal is different so in order to compare apples to apples I look at the total return in the time period.I don't really like non stablized cashflowing assets like developments or flips especially in this sellers market.

It's really just looking at the comparable homes in the area that are updated in a style similar to your proposed renovations.

I always recommend my clients get fee sheets from a few different lenders to compare.

With my prior experience in both traditional commercial lending, government programs, and tax incentive programs (TIF financing, LIHTC financing, and NMTC financing) I hope to be able to add value to other members while also structuring several deals and manage assets.  

Also, the interest rate looks really high for traditional financing.