@Errol Sadler Check out the cost to do this in the Florida market.

The definition of each class is heavily weighed on the income level that tenants earn in those areas.

They usually tally it up at the end of the year.

The RE agent stated some properties on the river in the past did not get their lease extended to provide better river access.  

The insurance would not be valid for two reasons:1) the insured “individual” is no longer the owner2) the insurance was for an owner occupant, not a rentalMost people DO change the insurance to reflect the llc as owner and as a rental.

But strictly going by the numbers, it's borderline OK, depending on the type of market.

I have a good agent I've worked with for years and letting him represent me not only gives me the advantage of additional counsel, it also gives me someone else to do the heavy lifting so I can concentrate on the deals themselves rather than the intricacies of the actual contract, the process of moving everything through closing and all the hiccups that often come with investment properties.

I own a couple rentals in the area that I am looking to refinance.

Then divide that cost by the amount of time between now and then and that's how much you should be putting aside for Capex.For general maintenance, the age and condition of the building will play into that.

Get the biggest house you can afford and rent the other rooms out to military with BAH.1.