Here's the situation: I have a very old 5 unit building consisting of 3 floors in the front and 2 floors in a back section that was added on at some point.

Plumbing and other specific repairs needed and caused by the tenant can also be added. 

He then added, with a 1% annual expense ratio that most advisors charge, that return over the same time period would have been cut in HALF. 

Hi @Kasra Moradi - If you're looking to get motivated seller leads, I wouldn't use Facebook as a platform to run ads to a cold audience (people who don't know about you), however, for buyer leads it can be pretty powerful.My team works with a lot of real estate agents and Facebook is great for building up your database FAST and placing all of those leads on long-term drip campaigns - it's a good way to start out and start building your pipeline...Just be aware that the leads that come through Facebook 90% of the time are NOT motivated leads - a lot of them are going to be window shopping with the mindset of "Yeah...

I had been on BP for several months are gave her a very brief description about our plan to buy and hold and keep adding cash flow so we can reach financial freedom.

Whereas, if I bought "property only" flood insurance, the total rate would be a lot more.I don't understand it either.The contents portion was automatically added the year that FEMA redrew the maps and my overall cost went WAY, WAY down. 

Adding tons of new potential deals. 

I had my realtor run the comps based on similar homes that sold with the added sqft and bathroom and noticed that they were sold for significantly more which is why I am intrigued to purchase this home.

Update, I added the umbrella policy. 

For me, the headache, expense and legislative issues that STRs carried was not worth the added income.