I can estimate most of the cost, taxes, insurance, utilities, PM fees, and such and I know that should be provided in the expenses but when it comes to the actual maintenance of the property, what strategy do you normally use?

For me personally, it sufficed to have my "normal" homeowner coverage and require renters to get their own.

Under normal circumstances a fee to manage the contractors and construction process seems appropriate, but one of the GPs owns the construction company that was used for the renos.

He is a normal attendee at our meetup.

We don’t fill the gap haha we create the “gap” aka normal money to close.

Hi @Karen DiNapoliGood question.In my opinion: it's all about the cash flow, not necessarily about the taxes or the other expenses.So for example, I live in the Philadelphia area and in West Philadelphia the taxes are lower than they would be in the county outside the city where I normally invest.

So true...I just got my bill for the last quarter and it was back to normal.

Normally, I'm always opposed to selling anything ever. 

Instead of that, I can keep the property in short-term rental mode in hopes that it helps the area get back to normal sooner.

Citizens is normally the lowest and I have the far majority of my policies with them.