That could be your specific lenders requirements though so if that's the case, there is nothing you can do about that.If they are going to up your insurance after your closing like that, I would highly suggest shopping for another insurer.I don't know why insurance companies are so frustrating to work with!

I was learning to raise chickens...not real interested until we met to talk yard birds at a coffee shop.

@Allan Szlafrok good point, have to shop around for a good reliable contractor.

It is a bit of an odd duck area but I spoke to some locals - hardware shop, realtors, business owners, etc - and they all have been feeling an inflow of people lately.

They can shop policies for all of the companies, find you the best pricing and options and manage them all for you.

On one side of the property is a Cigar Shop with a smoking lounge.

And check your insurance estimate also, I pay about twice what you have budgeted on my personal residence but I know my premiums are higher than they should be because I haven’t shopped around in a while.  

Tax rates for rental property investors vs. homeowners utilize their home as occupancy are MUCH higher (6% vs. 4%) which doesn’t seem like a lot but the millage rates per county are double sometimes triple for investors meaning tax rates for investors can be 2-3 times higher for investors vs. homeowners.Good luck in your journey and feel free to PM if you want to talk shop sometime or have any questions about the area!

reno takes longer than expected, shopping at Habitat for Humanity stores and similar reuse stores are a godsend...

I didn’t really shop around, but I’m sure if you did you could find the best deal/terms.