It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

Properties might eek out a few extra dollars each month, but you would need to have a substantial portfolio before you're getting enough cash-flow to even consider living off of rental income.

What are the details?

This report identifies things like nail size, nail spacing, extra hurricane tie down, etc. and qualifies you for a corresponding discount on the hurricane portion of your premium.

Then again, I invest in Upstate NY, so it makes sense to have 10% extra on hand and why my rule of thumb is state dependent.

What are the must haves and what would be a nice little extra service?

What are the details on the deal?  

On my property itself, my interest rate was so low that the tax returns at the end of the year and only getting 25%ish of it back (my tax bracket) was not extremely interesting; it was a no-brainer for me to contribute extra cash toward the note and aim for getting the HELOC.

@Sarah BuchananDepending on how bad the flood was and construction of basement I'd be extra cautious on how the remediation was carried out of moving forward.

Some of these points (1, 3 & 5) are covered in the details of the deal: Not CBS, roof in good condition (5+ yrs), wood exterior would need some repairs in short time, electric OK, plumbing would need repair.