We believe the property could have been appraised for ~$115k (new medal roof, new HVAC, floors, fixtures, new sheet rock throughout).

They apparently stopped insuring anything over 30 years old.The property is only a little under 4200 sf with a ground floor salon and two residential units in the 2nd floor, but I'm having a heck of a time finding another insurance company as the challenge appears to be due to its being a mixed use property.The city of Alameda has a bunch of similar mixed use properties and I will be reaching out to other owners as well. 

I also plan on developing an ADU to permit 2 + beds 1 bath unit and community improvements such as installing solar panels, specified parking areas, common areas, a community garden (for tenants only), and rehabbing each unit to force appreciation.  

Target a price based on where I am in my REI plan, which has a specific amount of cash available, and a specific return needed from that cash, at the specific timeline in my plan. 

Prior to this I’ve lived here around 6 years and always paid my rent on time faithfully and plan on setting up auto-pay to avoid any discrepancies in the future but I honestly can’t afford to just give away an extra $370 if I don’t owe it.Any insight into the discrepancy would be greatly appreciated.  

I do plan on getting one more home in MI to be a rental (1 primary and 1 rental in MI LLC), I will use them the same way i did this AZ home.

The rehabbing of the property was a bit over 33k which included a new HVAC System, Floors throughout the house, new bathrooms vanities, kitchen countertops paint and a lot of sheetrock work and trash removal.

The rehabbing of the property was a bit over 33k which included a new HVAC System, Floors throughout the house, new bathrooms vanities, kitchen countertops paint and a lot of sheetrock work and trash removal.

We plan to sell, keep the land, charge lot rent, and upgrade the community.

Good luck, I will be happy to hear from you if you proceed with your plans!