Replacement cost coverage will be more expensive, but some insurance companies will only do that and not offer you other options.I think more important than which policy is the quality of the insurance provider and whether they will pay you out or not, or how easy they will and not fight you.

@Stefan Isaksen@John Jacobs is in your backyard, so to speak...

Appreciate the feedback...I'm still shoppingIt's funny how many lender reps are so opinionated and speak on what they are not certain of. 

The best contractors don't often go to Home Depot and Lowes as much as to the supply houses--they know the materials are better quality and usually less expensive than some of the 'second quality' stuff the box stores sell.Good luck.

My advice would be to spend time looking for high quality buyers who are able to buy many properties a year. 

So hypothetically speaking, I want to negotiate the seller down to $300K cash for the property and then use a construction loan to renovate the property.

If anyone can offer guidance, know that I will repay it with attentiveness and my full effort in terms of prospecting, speaking to sellers, and anything else I can assist with.

Speak to a CPA regarding how/if you need to structure an LLC (I went with an umbrella policy instead of moving my property into a LLC) - this will be relevant when you file taxes and for depreciating your investment.3.

Don't think I'm up for it this year, but can see how JVs would get the team into medium-sized multifams - say 50-100 units- with the built-in management, economies of scale etc. that we're looking for.I can't speak to how easy or hard people say it is to find JV partners; I'm not in that sphere at the moment. 

You'll start to learn the shorthand of ARV, CoC, ROI, cap-rate, etc. pretty quickly.I think most of the language around "where to buy" is a lot easier to understand:  job growth, population growth, average household income, unemployment, school district quality, crime heatmaps, blah...blah...blah...