What everyone needs are products, services and policy structures designed by real estate investors, for real estate investors and one of those features is a portfolio type master policy, with no location limits, with the ability to insure multiple controlling entities and properties in any stage of renovation, in all 50 states, offering agreed value, special form coverage with theft and vandalism, the ability to actually reduce premiums incrementally by aggregating locations AND do it all on a monthly reporting basis so that you and your CPA can easily see the breakdown in coverage and premium for every location. 

Loans for investment properties typically will require 20% down and the interest rates are usually 1% or so higher than a primary residence.I usually try to stay away from condos as rental properties since the fees are not within your control. 

I plan to target precisely this general 'situation,' even if it came about (as it often does!)

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.

Remember you don't have to own a property to control it.Download BP’s newest book here some good due diligence in Chapter 10.

I can only control who I put in my property.

Remember you don't have to own a property to control it.

Other requirements could include side walks, storm water control, street trees, street lights, and running all utilities to the lots, including electric, gas, phone, cable plus water and sewer.There could be current zoning requirements that require larger lots than those platted maybe 50-60 years ago.