By investing in quality renovations, I hope to enhance the value and appeal of my home, as well as potentially lower my insurance costs.Strategic Renovations to ConsiderAddressing Four-Point Issues: I've addressed the issues that needed to be rectified before obtaining conventional financing.

If I could chime in to help in the search:be sure to find an accountant who is willing to grow with you, and is not too high priced fee-wise.

I also have 11 other LTR doors in the city (also do extremely well).If you have a high capacity to save more capital you could do BRRRR's in Detroit.

Hey looking for multifamily 20k down cash flow 200 - 300k a month c class neighborhood high rent growth potential  

@Benjamin WeinhartMy experience on this tax forum tells me that highly technical discussions of the Code/Regs nuances are not well suited for this platform.That said, my 2 cents is that this issue is a matter of interpretation.

The quality of each of those neighborhoods is block by block.

I would say the cost if it does become an issue could be high but that is a call you have to make. 

That's a ridiculously high insurance premium. 

I would also highly recommend you educate yourself on New York State tenant/landlord law, especially if you plan on self-managing.

The cost of eviction is really high in NYS, the cost of mismanaging an asset is even higher.