Needless to say, I'm in the market for a new policy.My insurance broker just gave me a quote that is over $1,000 a month higher than my existing quote and claims that is just "the market" for insuring rental properties right now.

He owes $1400 in delinquent property tax and said it is otherwise unencumbered.He printed out a 1 page bid sheet and wants $500 upon winning and the rest within 24 hours, then he will produce a quit-claim deed.The owner also mentioned that only 4 people had inquired.It needs a lot of work, so I am planning on a walk through with my contractor this week.

I feel itd be similar to if you had bought a rehab and held it for 3 months and had bought the unit during that time... i do know that could could still claim the depreciation prorated for the year and subsequent years.

The problem with 3 big dogs like that is if they are kept inside they trash everything.Who knows what will happen with this insurance claim and how long that will take.It would be a no for me.

But you're right, the opportunity is always there when people can see that the property is vacant.Probably just bad luck and bad timing.I've never had damage so bad that I've had to file a claim before - does this mean that rates will automatically go up on my other properties?

And the most important reason to go this route is to protect your personal assets from a legal claim.

That stopped a couple of years ago.Occasionally you will hear someone claim to have done it but I have yet to see proof.You will need trans funding.

So it's your job to figure out what the rents and expenses SHOULD be, not what he claims they are.

Remember if she stops paying and you don't have a clear agreement in place it will be harder on you to claim non-payment.

Claiming identity theft is straight out of the Deadbeat Playbook.