The property was recently flipped (built in 1977), and while it looks nice cosmetically, we’re waiting on inspection and permit info to confirm what was actually updated.Major updates already done:Roof replaced in 2021Solar panels on roof in 2024HVAC 1–2 years oldWater heater 4 years oldVinyl fence 2 years oldOur challenges so far: Insurance is insanely expensive, cheapest quote we’ve seen is $3,700/year, and that doesn’t even include the landlord endorsement.

A good rule of thumb is to make this a requirement in the contract, and get a copy of the endorsement, relying solely on an insurance certificate that states "additional insured" normally isn't sufficient.

Just another Celebrity endorsement deal. 

Also I am highly suspect of a company that would use an endorsement on their hope page of the controversial author Regina Jackson, whose claim to fame is hosting expensive workshops and writing books that claim all white people are racists. 

However, I turned over to my carrier the letter along with the contract between my entity and the general contractor, and the insurance certificates and endorsements from the general contractor and the framing contractor who each added my entity as additional insured.

Having an SEC registered REIT, along with several positive reviews and endorsements from actual investors, instilled a great deal of confidence in me.

The way around this is usually to have your broker add an Agreed Value endorsement.

If you only have a standard homeowner’s or dwelling policy, you may not actually have coverage for short-term rental activity unless there’s a specific endorsement.

Now if the LLC is an insured under an existing policy one might be able to purchase an endorsement to the policy moving the effective date through the date of the purchase, but keep in mind, the policy probably excludes acts of the insured, so if the title search misses a defect of lien, say a mortgage created by the LLC and not disclosed by the seller of the LLC interest, any loss would probably not be covered.

. : ever since meeting with Jonathan from quality builders I have been buzzing with excitement, so a special shout out to him, not that he needed my endorsement but I really appreciate his help and hope to collab with him soon on something🙂