On your cash flow are you subtracting out what you pay yourself/benefits for you, taxes?   

If he is working full time on real estate you’ll qualify as real estate professional for tax purposes.

I would list out all damages (the full 3x amount you're claiming).

I am in the process of filing taxes.

My broker assured my property manager they will receive the same coverage as before, however internet articles claim  additional insured  "is not covered by the polity for any liabilities arising out of your business.""

They may very well be wrong to bill you for this, but to claim they are crooked is a stretch...this is property management and insurance 101.

Is he running a very established business, lots of web presence, social media, referrals through “next door” type boards, to go after in small claims court.

.• Expenses: Estimate operating expenses including property taxes, insurance, utilities, maintenance, vacancies, and property management fees.• Financing: Explore options like FHA loans, conventional loans, or portfolio loans.• Cash Flow Analysis: Use a tool or spreadsheet to calculate projected cash flow.Based on your estimate of $300 per month in cash flow, make sure to verify that this aligns with your financial goals and risk tolerance.

If you have self employment or gig jobs you need 2022 and 2023 IRS taxes filed and all the pages/1099/w-2/LLC/Corp/personal and 2024 income.

Monthly rent + rate increase + probably getting a clearer picture of taxes/insurance would be my guess for that.So I wouldn't completely blame whoever you were working with on that, but if it were my client I would have tried to get a clearer picture of that going into it and either treat it like a 'vacant' or go off of market rents (assuming they are closer to $1200).Good luck!