Vernon will enact any in the future, but generally speaking properties outside of city limits tend to have less pressure to enact restrictions.It's always important to have multiple pivot options if your initial strategy dosen't work out.

The rest was carrying costs: utilities, insurance, purchase and sale closing costs, and interest payments on the loan.

I think I've built out a pretty sound investment strategy but I wanted to get everyone's input.

Insurance and Title Shop around for home insurance companies that best suit your needs and select the insurance company that provides the amount of coverage for your home owner’s insurance policy.

@Sebastian Gomez according to this: https://www.allpropertymanagement.com/resources/property-man...One must have a Real Estate Broker's license to operate as a PMC in Illinois.You've stated you have an agent license, so, legally, you will have to run your PMC commissions through the real estate broker you are operating under.Your broker may also need to modify their E&O Insurance to accommodate your PM activities.

I currently have 4 SFH rentals in the southeast, 3 of which are owned free-and-clear save for property taxes and insurance. 

You can make numbers work in the area you will need more capital and a good strategy. 

Make sure you are in a state that doesn't have licensing requirements for private lenders and make sure you work through a title and escrow agent so that your money is insured with a lender's title insurance policy and ABSOLUTELY make sure your LLC is listed as a loss payee on the property hazard insurance.

- Do I need a different insurance than the residential income property insurance?

Hi Isaac,Personally, I wouldn't recommend this.You should focus on growing your portfolio as in "finding the next deal, getting access to cheap capital, finding partners, strategy planning, tax minimization, etc..."