Thanks for sharing, I agree that time and long term investing offers the best return on the monumental investment it takes to  update a home.

The market certainly offers a tremendous pool of renters in the form of students and staff as @Jonathan Greene pointed out.

Recommend you just Google "commercial lease" and copy & paste to get what you want covered.If you want commercial tenant to be responsible for the building, that's known as a Triple Net Lease (also shifts taxes & insurance liability).Then you should have a real estate attorney go over and approve your copy & paste creation.

Still, I like what they offer and think they are making a good job and know the market. 

Which insurance to use to cover a home that’s being fix & flipped?

I am submitting 5 - 10 offers on SFH's each week in hopes of taking advantage of the current market and to take advantage of the future market.

If you do not have any background check results of the current tenants and occupants, you should consider doing that before offering a new 1 year lease term.

But it seems that property taxes will increase extraordinarily high next year and coupling that with expensive home owners insurance.

This can involve public hearings and meeting specific requirements.Surveyor: Hire a surveyor to map the property and define the boundaries of each condo unit.Legal Counsel: Work with a real estate attorney to ensure all legal requirements are met and the condo conversion is properly documented.Financial and Operational Considerations:Condo Fees: Determine the monthly condo fees for maintenance, repairs, and other communal expenses.Insurance: Ensure proper insurance coverage for the condo association and individual units.Reserve Fund: Establish a reserve fund for future repairs and maintenance.Tax Considerations:Initial Purchase with 1031 Exchange: 1031 Exchange Basics: By using a 1031 exchange, you defer capital gains taxes on the sale of your previous property by reinvesting the proceeds into a new like-kind property.Down Payment and Financing: You're putting down $220,000 and financing the remainder at 8% over 20 years, resulting in a monthly payment of $2,593.Converting to Condos and Selling Units:Capital Gains Deferral: The 1031 exchange allows you to defer capital gains on the initial exchange.

Hey Deborah, What terms are they offering?