It’s time to look into home owners/rental insurance.

In speaking with our insurance agent, we decided not to make an offer.

. - Fortunately, our transparent systems allowed the owner to catch it:)- Full transparency - we would have never caught this honest mistake:(An owner also needs to be involved to approve & fund large expenses: maintenance, property tax & insurance payments (if they want to be more hands off), evictions, etc.A great PMC should also have a chat with you annually about your future plans for a property and your portfolio. 

. - We help with stress and time off.𝗧𝗵𝗲 𝗽𝗹𝗮𝗰𝗲 𝘆𝗼𝘂 𝘄𝗼𝗿𝗸 𝘀𝗵𝗮𝗽𝗲𝘀 𝘆𝗼𝘂𝗿 𝗶𝗱𝗲𝗻𝘁𝗶𝘁𝘆 𝗺𝗼𝗿𝗲 𝘁𝗵𝗮𝗻 𝘄𝗲 𝗴𝗶𝘃𝗲 𝗶𝘁 𝗰𝗿𝗲𝗱𝗶𝘁 𝗳𝗼𝗿.When people feel important, they do their best.When teams trust, they do great.When health is important, work gets better.I work for BiggerPockets, a company that truly takes care of me and it's employees, which only pushes me to be true asset.

I have also filed a claim against his insurance company with hope of getting at least our monies from the contract back.    

Start small and aim for properties that cash flow well, even after accounting for taxes, insurance, and repairs.Most importantly, keep taking action!

It's very cheap and not difficult to maintain bond/license/insurance.

The moral of this story is to have good home owners insurance!

Should I use a LLC vs. insurance must have 100,000 posts on this forum. 

Include all expenses like property taxes, insurance, maintenance, and property management fees if you’re not managing it yourself.Network Like Crazy: You’ve already made a great first step by joining this group!