The cheapest quote I have gotten is $2800 is there any advice or tips that anyone has for me on how to get a more affordable flood insurance.

For longterm rentals, some things to know are, how to calculate affordability of an area (a function of median income, interest rate, median home price), look at migration patterns (are people moving into or out of an area, what are the trends), business climate (are businesses moving to the area or out, what type of industries, income level, etc), rental amounts,  that's all I can think of at the moment.I wish I would've known more about evaluating markets when I bought my first few properties. 2 of the first rentals I bought, went absolutely no where when I finally sold them about 17 years after I bought them.

Maintaining an affordable housing supply is a vital component of the American economy.

We are on forbearance for our home until the end of my Americorps position (I applied to the 10 month Americorps program when the restaurant I was working for shut down for COVID, I earn a small stipend now....) so I don't know if 'buying our second property' should be my goal.Here is what I know: I want to focus on value-add buy-and-hold investments for the primary focus of providing affordable housing.                                

The midwest tends to have more affordable housing that will cash flow well and the coasts are more expensive with more appreciation. 

The resulting number is an estimate of what you could afford to pay for the property 

My understanding is also that loan proceeds are not taxed and therefore since we have only $11k in debt and almost $200k in equity we could afford to get a LOC or other low cost loan to finance the improvements and have a non taxable event with the little bit of interest being tax deductible. 

As you know, here in WA cash flow is hard to come by and not at affordable prices.Sharon

Long story short, if it's a money pit that you can't afford maybe it's time to see what it will bring on the open market. 

Need an affordable contractor to do paint and flooring for a small apartment in Pawtucket, RI.