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1st post, 1st property: 2 duplexes but need flood insurance.
I am currently in negotiations on 2 side-by-side duplexes. I think it's a "B+" neighborhood, great school district, 90k per property, roughly $15,000 in maintenance costs (new HVACs, some mold in one). Buying as a pure rental property.
I just learned that the property is in a flood zone. $1,600 quote for flood insurance per property. The numbers still work out favorably, though. $600 rent/unit, $1,000 monthly earnings. 3 units filled, 2 have long term renters. Cap rate around 7.
I would love any advice for this deal.
(P.S. first post and first rental property. Property is in Kansas City, MO area).