This includes a 4.2% increase in rent costs and a 2.5% increase in homeowner's equivalent rent.New Residential Construction Data: Housing starts increased by 3.6% in May 2024, reaching a seasonally adjusted annual rate of 1.72 million units.

Yes, as a home owner you are on the hook for any other miscellaneous expenses that arise but that's why you take out reserves every month in your calculation. 

Homeowner's and flood insurance can be considerably lower than in other coastal areas, especially in comparison to States with prohibitive property insurance markets such as Florida.

You also run the risk of voiding your homeowners insurance. 

Some homeowners told me “this is Norma of contractors” but I’m not buying it. 

Re: Homeowners Insurance on a Real Estate Investment Property from a Lender’s PerspectiveI am a private money lender.  

The only insurance any legitimate private lender will ask you to buy is a lender's title policy and fire/hazard insurance (or landlord insurance, or homeowner insurance, etc., as appropriate).

My mom is also not a homeowner and has never been. 

I've notified the HOA because roofing is under their responsibility but - I highly doubt it gets taken care of soon enough.Does anyone know - can I buy an umbrella policy even though 1 of my units has no homeowners or rental insurance on it? 

Also, define how you'll share the acquisition costs, such as the down payment, renovation, and closing costs.Payment Responsibilities: Explain how to divide and pay for regular costs like mortgage, property taxes, insurance, homeowners association fees (if applicable), and upkeep expenses.Management and Maintenance: Agree on how property maintenance, repairs, and improvements will be handled, including decision-making processes, funding for these activities, and responsibilities for performing or managing the work.Single Decision Point: For example, I've seen situations where one person agreed to replace an appliance while another strongly opposed it.