It’s challenging to get property in the Smokies these days.. being able to make good revenue will help make up for premium that’s in place now.

Note, I love renters with pets because they stay longer, typically clean up more often because of the fur, and are willing to pay a premium for their fur babies.Pet Rent:  Pet rent is the best way to go. 

But in this market, the right portfolio can actually command a premium.  

You must update your insurance coverage to reflect the new ownership (and the premiums typically go up). 

soapbox:  Probably should have researched this before the investment.also somewhat soapbox:  not a lot of money to be made in airbnb vs long term rentals in Huntsville, because the rental premium for the STR is not very large. 

If those numbers are right, this may feel like a good deal given the property would have almost everything new once it's complete and 'feel new' to tenants in the other unit who may be willing to pay a bit more of a premium for a newer apartment.

He offers solutions to seriously lower your flood premiums. 

Buy Midwest investment properties and ignore the non owner occ pricing premiums, just do it.  

Generally the commercial loan space is higher by about 1% or more and you will pay a premium if it is a multifamily property. and are often subject to a pre-payment penalty in NJ.  

You'll have a liquidity gap in the first several years of the policy, meaning you won't have as much cash value as what you've paid in premium.