Ask them what it would take to formally change the property type and make sure there aren't any current violations that you will be stuck with later. 

I'm currently interested in learning about all types of real estate investing but thinking of starting off with house hacking or flipping. 

Indianapolis has- farm house/ranch/Victorian/Craftsman/American foursquare to name a few of 80 types. 

I would get this out to quote with multiple Independent Agents (they represent multiple carriers) and if you can determine any agents that write a lot of apartments that would help also.The type of info you should gather that will help in the quoting process:1. current coverage. 

If there is smoke or water damage contact a restoration contactor (I've had clients use Belfor and they were pleased with their service (do not sign a contact with any restoration company without the ok of the Insurance adjuster.  

When you have a team around you they can help you decide on neighborhoods and types of properties that are in demand in your target market. 

As stated by Victor, maintenance and cleaning when a tenant leaves can be brutal but this can be with any type of tenant.

Hi Michael,Are you in the a neighborhood in the actual city of Albany, such as Ten Broeck Center Square, Hudson Park, Pine Hills, or Park South that has 4 unit buildings and can support that type of arrangement without too much concern of negative impact from other tenants?

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

So here is a partial list of people who might be more inclined to listen to your offer of a cash discount, or some type of vendor financing:Financially Distressed HomeownersThese are people who may be facing financial hardships such as foreclosure or debt.