I am not saying or comparing them to Norada, just saying that make sure you truly understand what it is you are investing in if you go this route. 

You will live there for a year, hopefully get some equity so that when you refinance into a conventional, you can cash out, but in this market that is pretty unlikely.

We can't answer this.

I’m in that market, I specialize in this sort of thing, I’m happy to give you my 2 cents.

Our actual carriers used to be Secura, but they seem to be getting out of a lot of insurance lines or pricing so high as to have customers drop off, and we just moved policies in Nov. to Hanover Insurance. 

@Carter Manley I feel there's something else to this question.  

That is a recent topic from 12/2 that Lindsey responded to with a list of providers from a different forum discussion on the topic. 

With many heirs and a 50-year history, you have no idea what skeletons could be hiding in the closets.

What made you interested in investing in this type of deal?

The no-show rate for prospective tenants in this area tends to be quite high.