I would try reaching out to a property management company and see if they could give you some ideas as far as if its even a feasible idea, and what you could get for rent.

TBH I've never had real issues, and even if I did (unless of total loss) I would NEVER file a claim.

Originally posted by @Jarod Castaneda:@Guifre MoraRental Property Cash Flow Analysis   Monthly Operating Income Scenario A Number of Units 1 Average Monthly Rent per Unit 1,575.00 Total Rental Income 1,575.00 % Vacancy and Credit Losses 5.00% Total Vacancy Loss 78.75 Other Monthly Income (laundry, vending, parking, etc

This will likely be a loss, but you need to live somewhere.Now, go back to your NOI, take out your rent from the duplex (are you taking a whole unit for yourself for $1,000 loss rent or have a roommate and are only out $500). 

I'll outline the exit strategies and division of profit/loss options below.

Hi,Can someone help to review and comment on my first pro forma estimate below? After running the numbers it seems that my construction costs are too high and are killing the profitability of this potential project. I...

Usually you're required to mitigate losses, as well as have a spelled out break fee.I'd say two months would be a safe bet, but one at least.

Get a public adjuster to quote the loss amount.2.

I don't know anything about Ocean Isle, so I would do a lot of homework on the seasonality (as others' have responded about so far), peak season, how to make revenue during off season, or ways to get a 6 month renter in there during the off season to offset losses.

Then all profits and losses are attributed accordingly.