Insurance for a Cheap Rental in Cincinnati
I just bought two very cheap houses in one deal for $26,000. They are decent sized for the price, but they're not worth much more than the purchase price. Maybe $20,000 each.
When it comes to insurance, I talked to my broker about it, and he could only come up with a $50k minimum policy, which is $90/mo for each property. That's about as much as I pay for my homeowners insurance on the home I live in. I can't help but think there has to be a better value than that.
What other options are there? This is my first super cheap house, but I'm sure there has to be a better option.
Thanks,