@Jimmy Hung if you can find an insurance carrier to offer Agreed Value, you can insure for a lower limit without being penalized for underinsuring. 

The "Live and Flip" idea could work if you're okay with a short-term plan.

Does anyone have ideas of who to talk? 

The idea is that you build a following of warm relationships and can leverage your reputation when you need a tenant.  

Building positive relationships with tenants can increase their retention and reduce turnover, promoting consistent rental income.Consider FHA loans with lower down payment requirements if you're starting with limited capital.

It’s better with limits STRs for the people who live here and just in general IMO.

@Colleen Langdon That's a great idea!  

There are large numbers of opportunities in the Bahamas and very limited access to lenders.

If you still think it's a bad idea feel free to share a better way in this current market and I am all ears. 

.- Understand passive activity loss rules limiting deduction of losses from passive activities.Capital Gains Taxes- Be aware of tax implications when selling property, considering short-term and long-term rates.- Explore strategies like 1031 exchanges to defer capital gains taxes.Deductions and Expenses- Know eligible deductions: mortgage interest, property taxes, insurance, maintenance, and management fees.- Maintain detailed records of all real estate-related expenses.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.