Think of it this way...Just buying a rental property = 400.00 cash flow + 400 equity each month = 800.00 a month increase in worth.

Get a certificate or letter or something confirming that the removal was completed on x date for this address, permits were gotten, inspections completed, and the whole process completed to DEP standards.

I would be careful about always filing claims for rate increases and or dropped coverage.

I plan to refinance those 3 properties in 3-5 years and hopefully acquire 3 more properties with the proceeds, which will of course increase my cash flow even more and get me a step closer to financial freedom.

As you collect rent throughout the year and or years you will be increasing your capital/reserves.

The property was brought back to better than original luxury status, therefore increasing my rental prices from $950 to $1200 per month.

It will come at a cost of fees and some time though.Now umbrella insurance and liability insurance on the property is definitely an obtain and increasing the policy increases your protection but one thing that is always unknown is how much a claim will be. 

We purchased the property with a conventional loan and 5% down, 30 year, and a PMI obviously.We are doing some significant updates and upgrades that will increase property value.

We are undecided on whether to put down asphalt or gravel to help increase value to our home & property.  

Lincolnville is way over priced now that the hipsters have discovered it and of course it was flooded during hurricane Matthew...now the city might make you bring the buildings up to code which can include lifting the houses up ....I would be very careful about any "deals" that suddenly pop up ...here is an article that explains ithttp://staugustine.com/news-local-news/2016-10-28/hurricane-repairs-st-augustine-flood-elevation-standards-could-be-concern