Until the price of materials stabilizes, any numbers from last year, or even earlier this year,  are out the window.

Just happened to be a product Flagstar Bank is advertising up here in SE Michigan.

Renovation Builders Risk policy2, Vacant Dwelling policy that allows renovationNormally we use the Builders Risk if possible because it has coverage for materials in transit and stored at the jobsite.

I recommend setting up keyword alerts for each area as they are discussed in the forums daily with advertisements posted in the BiggerPockets marketplace hourly.One thing to note when looking at the individual markets, you can make or lose money in any market.

Some things that are going to impact the price of the insurance premium: 1. insured building value 2. building material (frame, masonry etc) 3. age of building 4. roof style of building and age of it 5. number of units in the building 6.

Most lenders have a lot of overhead from personelle and advertising which is why retail rates can be high.

You can't roll up in the core areas and expect to get your finish out materials from home depot and maximize your return.

References and some due diligence into the marketing materials they provide you with.  

Recommend having the hole backfilled as needed with appropriate material.

But these properties won’t perform as advertised as you won’t collect anywhere near the projected or scheduled rent and expenses will be much higher than stated.There is an old saying: If it sounds too good to be true, it probably is.