Hey BP, I have a smaller portfolio of long term rentals and I am looking for some protection advice. I’ve been advised to look into an umbrella policy. Any of you out there have experience or advice on an avenue to pu...

Quote from @Jacob Straussen: @Bryan Vukelich I was considering that as well - putting a cap and then making the tenant pay for any extra. 

So with that square footage you could put in cabinets and  some appliances but you can't go with a tradition stove kitchen until it is permitted for the right use. 

As others have noted, expect there to be licensing and permitting requirements.

If the park includes extras like bathhouses, laundry, or a store, your staffing needs increase accordingly.Infrastructure and maintenance are another big challenge.

Without it, you cannot obtain the work permits necessary to legally begin most projects.What is a DOB Tracking Number?

Building costs swing wildly depending on where you are and how custom the build is, but here’s a quick reality check from what I’ve seen lately:Basic spec or builder-grade new construction: around $225–$275 per square foot.Mid-range custom or semi-custom: more like $300–$375 per foot.High-end custom homes (especially with slope, trees, or tight access) can hit $400–$500+ per foot real fast.A lot of folks forget how much the site adds — clearing, grading, utilities, septic, driveway… those things alone can tack on $50–$100k before you even pour a slab.As for permitting, brace yourself.

Duplex have different zoning that may permit additional units.

As a non-smoker who HATES the smell and could smell it on anyone whose been with someone smoking I can honestly tell you that if I was renting I'd gladly pay extra to rent an apartment in a smoke-free building.

They retained their permit after the changes, but if they ever sell, then the permit is no more and the STR is taken out of circulation.