Hall bathroom had 7' ceiling, we opened it up to a 10' , located toilet to end, relocated linen closet behind door, to add vanity.          

GENERAL INFOThe property is:1) Out of state2) A single family buy and hold rental3) In good condition4) Occupied by a tenant5) My first investment propertyThe quotes are from:1) An insurance broker in my home state (CA) who typically uses Safeco2) An insurance broker in the property’s state (Ohio) who quoted Berkshire Hathaway Guard3) One of the big name insurance companies, located in the property’s state (Ohio)Any questions (replacement cost vs actual cash value, etc) I should be aware of and asking?

Any advice is appreciated - also I am located in Florida if that helps at all.

Every market is completely unique and the prices for materials, labor, permits, etc... will vary somewhat from place to place, so you're probably not going to get a really precise answer on this one, but I'll try to point you in the right direction.The number 1 rule is spend less than what you can sell for, while still having a marketable and desirable property that will generate a profit. 

-Located near 2 major hospitals and 3 Universities -Original Rehab included 100% new bathroom, 100% new plumbing in the house, electrical updates, all new flooring, all new paint, and the addition of one new wall to create a "true" 3rd BR.

My hang up is, based on the location, how much I will be able to raise rents.

Are you stationed at a location that other military personnel come to go to military schools?

They already have relationships with trusted contractors, leasing agents, and some have property management in-house.BRRRR can be a good choice, but it all depends on how much time you have to dedicate to the project, and how far away you are located.

@Wayne Brooks agreed location of the property does change the outcome a lot.  

They are affordable, with a deep staff, two locations, great customer service and an attention to detail.