Thanks for sharing and saving me the time!

Buy and renovate the property and in 6 months do a simple cash out refinance and pull out some cash and start the REI process all over again.I am North of you up in Pinellas County West of Tampa and there are also some great places up here that might save you some cash. 

I have been doing the anakysis on several rental properties and saving the results.  

.: Quote from @Theresa Harris: For your first question, how much will it save you on insurance and how likely are you to make a claim?  

If you discovered the issue before paying for the appraisal that could hopefully save some costs (in case the appraiser is with the wrong AMC).Pre-vetting with the lender on rental history/AIRbnb/1007 as well as seasoning could help. 

Thanks for saving me from getting scammed.

Another reason to not like a PM is that there is no incentive for them to save you money.

Not too bad in my opinion considering I pulled that money from my line of credit and didn’t have to tap into any of my current savings.

You are already paying rent, so pay it to yourself to increase cash flow and accelerate savings for the next investment. 

More important questions are all the ones like this:If there is a disagreement, how are issues resolved?