Quote from @Devin James: We’ve slowly been improving our homes the more we’ve built and the more feedback we get from our Buyers2021 – Added 8ft doors throughout the home2022 – Added a new elevation with stone in the front of the home2023 – NO carpet in the bedrooms, LVP throughout the home2024 – Added hurricane impact windows & new color options2025 – Adding Ceiling FansGotta be open to feedback and adjust accordinglyThis can be the difference of your home sitting on the market for 4 months vs 1 month where's the modifications and pictures?

I have 2 rentals in SW FL- both have open insurance claims and a public adjuster is involved.My insurance policies renew April/May.

Big changes coming soon, and climate change is just the beginning.

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

A growing number of homeowners nationwide are being dropped by insurance companies as firms and regulators struggle to deal with the unpredictable and costly risks of climate disasters.Nonrenewal notices surged by nearly 30 percent from 2018 to 2022 to more than 620,000 a year, according to a Treasury report released Thursday that examined 246 million policies nationwide.

I would keep rent a little below market, then split the monthly bill between the tenants on top of rent.Old houses in cold climates get expensive in the winter.

My immediate area, 5200 people, has 3 outdoor self storage and 1 new climate controlled.

Or, have they adjusted their project to accommodate a higher interest rate environment? 

During 2021 I sold 2 properties which brought me 250k in capitol gains, due to the climate of prices then.

Hot tubs can be a major revenue booster for STRs, especially in colder climates or vacation destinations.