It sounds like your PM gets the full amount of the late fees, unethical from my standpoint but it is common.

Which sounds horrible.

They're all the same, sounds like you're comparing apples to oranges on policies.

If you are open to discussing the possibility of working together, I would welcome the chance to learn more about your approach and see if there might be a good fit.If you prefer not to take on investment partners or if your current model doesn't align with my goals, I completely understand.

But if LLCs are cheap, like in CO, then we have a holding company own a gaggle of LLCs where each rental is owned by an LLC.The fix and flip is kept completely separate... like way way away from the rental activities.Don't put your rentals into your fix and flip LLC either.

I have two concerns with your plan.As far as your plans that sounds good. $2,500 in rent for $1,300 sqft seems too high, even for Bayview and I guess you are in Tippecanoe, but I have not seen the house so can't tell for sure.

In general, it is preferable to reduce or eliminate debt that is not producing cashflow before investing so your personal balance sheet shows more assets than liabilities.It sounds like you are in a great position being a year away from paying off your vehicle and student loans.

Just completing the intro steps .

Yes, if you do end up converting a primary home to a rental property the insurance carrier must be notified of the change as it's a completely different policy with different coverages.It's not a difficult change to do but if you don't make the change and a loss was to happen a claim could be denied.

It sounds odd that they are charging 1.5bps per day.