Yesterday on the 3rd, I went to sign the paperwork with the property insurance agency at which time I was told they put the wrong address on the quote and after making the correction the premium went from $2,600 to $3,900 annually.

You are correct. 

Good evening BP, I am new to analyzing deals, I have put together this property and hope to learn if I am running numbers and assumptions correctly.

There seems to be a lot of costs involved with setting up multiple entities and hiring an attorney to set them all up correctly and a CPA to assist with my books and write offs.

There were some last-minute issues with the title but our RE attorney was great and resolved the issue in time for the early closing.Yesterday on the 3rd, I went to sign the paperwork with the property insurance agency at which time I was told they put the wrong address on the quote and after making the correction the premium went from $2,600 to $3,900 annually.

Many people are correct in that they are most likely yours to keep, however, you need to consider the implications of the gun's history.

Is what I’ve read correct?

You need to do it correctly of course.

The salient point is that it is a pre-aged business that will get serious consideration from the card issuer.This is just a theory, but if I am correct the $4000 fee is not only buying you a credit limit, it is buying you a business. 

@Curtis Maag@Wayne Brooks is correct but it was almost changed in the trump tax reform- understand it may change in the future but all you can do is make the decisions based on today’s rules.