Apparently, because rates increased here so astronomically in the last 2 years, the insurance industry believes their numbers are correct with the risk.If you have the correct coverage @Marc Shin, you should be covered (although you should also have budgeted or baked-in costs for minor issues/damage).

I think it's about the best time there is to outside of the past to invest and acquire properties.I just recently found an article by Julie Taylor from realtor.com that was posted December 10th that has some predictions on housing markets where "Home Sales Are Set to Soar" with Colorado Springs listed as number 1 with expected YoY sales increase of 27.1% and Denver expected to increase 13.6% YoY quoting Christine Dupont-Patz who is a real estate agent in the Denver area. 

There are a lot of ways to crash and burn, so increasing the odds of succeeding long term should be your highest priority. you can always sell your local assets once you're comfortable managing rentals and ready for a market that better-suits your criteria. btw, kudos for being self-aware of your limitations.

They become renters, MASS increase of renters.

The shorter the prepayment term has an impact on increasing the rate.4.

Rents , cash flow and appreciation increase over time. 

Or is it calculated daily and the base rent increases after 10 days when the late fee hits the account?

These increases will likely slow to pace more in line with inflation.

Think of vehicles like the cyber truck where you need to sign up ahead of time to pre-order and so many people want it that the value increases shortly after they are released.

In beach markets, in ground pools tend to increase revenue 20% or so.