Either way, I think I need to pull the trigger and get to one.

A monsoon might generate an inch of rain in 15 minutes but with the overall rain gauge running close to 8 inches per year we are pretty dry, hence the desert.

The catch is if one were to transfer the insurance, it would most certainly trigger the lender to call the note (DOS clause).

I was able to purchase a drying vent at Ace Hardware for $7 that will be installed in the soffit and allow the lint to be blown outside.

@Dave Savage I think if I found the right property, I would pull the trigger.

I will definitely make sure we include an addendum in the lease stating that the tank must be returned at the same level at move out.Tom S, maybe Tim and his friends were the ones who let your oil tank run dry?

It's obvious it has happened to them before with a previous client.All I say is let common sense prevail in these situations.I am sorry to hear you are having this experience.Many insurance companies won't write insurance policies on these really older homes unless documentation has been shown that all major electrical,plumbing,rood,etc. has been replaced.The insurance company knows just like you are experiencing that if they are not replaced repair after repair will drain them dry in payouts.

We have rehab estimates at ~$4k per unit, which includes flooring, dry wall repair, electrical, plumbing and appliances.

Many here have poo poo'd the idea of investing in Williston ND under the notion that the boom could dry up at any moment.

Once your $150k dries up, then you can A)reinvest your cashflow to buy more properties or B) find an equity partner and use their cash to buy more, etc etc