Hello,

We purchased a SFH 3bd/2ba in 2022 and it was a great year for Airbnbs in PCB, FL. However, 2023 and 2024 we were in the red a few thousand. Insurance is already difficult in the panhandle of FL due to the hurricane threat but I recently learned something I did not know when we purchased the home . . . due to the previous homeowner having an insurance claim for water damage, our insurance is really high. The sellers disclosure just stated "water damage in the washer/dryer area" and we did not inquire further to see if there was an insurance claim, etc. Also, our realtor did not think it was a big deal so we followed her lead. We all interpreted it to be minor water damage. But when shopping for new insurance last year, I learned from the broker that it was a large claim and because the claim was within the last 5 years, my insurance will continue to be high; even though I was not the homeowner during that time. Any thoughts/ advice? We have thought about converting it to a LTR but it definitely won't cash flow then because we purchased this with a DSCR loan and the insurance broker stated the LTR vs STR issue won't make much of a difference due to the insurance claim. For wind, etc. coverage we have Citizens/ the FL-state-run program. I am open to insurance referrals also . . . paying over $700 per month in insurance is tough. Thanks in advance.