Pre-understanding of the area/market, willingness to fix and live in an outdated and damaged home.

My normal insurance provider(Erie) said they will not provide coverage on a rental we are about to purchase due to the home having fireplaces.

When using the Fannie/Freddie/Federal Home Loan Bank second home occupancy loan and you transfer title within the first year to an LLC that the borrower is majority owner of it will not trigger the due on sale clause as long as you can attest that it will continue to be a second home.  

@Verna Littleton @Wendy Thurst we rep for NREIG and can share that they will not be able to insure the building if it is owner occupied.If you are living in the property as your primary home, you would get a standard Homeowners policy. 

Looking for advice on what I should do with my current home as I look for my next primary residence.

My wife and I have started a company, Margherita Homes, where we provide realty services, construction services and home care services, plus we invest.

This project required the complete replacement of the sewer system under the home and from the home to the city tap in the alley.

In December, my wife and I bought an old 1984 3/2 split level home with a walkout basement in a great area of Raleigh NC and spent the next 5 months renovating it, spending a little over $40k and pouring every ounce of energy and time we had into it.

We purchased the home on 6/14/2022 for $236,000 and sold it the same day for $280,000.

Step #PhaseStep1DiscoveryTalk to experts and learn (process, tips, design tips)2DiscoveryCreate social media and document story3DiscoveryGeneral research - budget considerations, financing options, permits, regulations, tax considerations4DiscoveryMarket research - competitor analysis, analyze guest reviews, market trends5DiscoveryGather ideas/inspo (blogs, articles, youtube)6DefineCreate brand and vision7DefineCreate guest requirements (e.g. coffee maker, natural light, near activities, etc.) and prioritize must have, nice to have, etc.8DefineSketch idea for look and feel (architecture and design) - map out the floor layout9DefineConsult an architect (is this needed?)