Buy in areas that are less susceptible to large insurance increases (which is getting harder to do)

They had someone whos house burned down and wanted temporary housing for 4 months and month to month after that .They said it is an insurance claim(Youngsters in Mid 20's) , and I can vet the tenants just like I vet normal renters and decide after that .The contract will be directly with the tenants but the rent will be coming from CRS .Crs was offering me 2X the listed rent which was tempting .I signed up with them, Rents came in as they mentioned ,They ended up staying on the property for 8 months .CRS would deposit the rent every month on the 1st .CRS will send you W9 form to fill out as they will report all the rent payments to IRS for tax purposes.

I am debating if I should file an insurance claim but my concern is that they will increase the annual insurance cost.

“An onsite visit from cost seg firm civil engineer or surveyor isn’t required by the IRS for cost seg firm to prepare the report.”

One more consideration: the type of trust you utilize may limit your insurance options as carriers like to know who it is that they are insuring.

Normal upfront (whatever that is for you) based on your application process and a rent guarantee insurance policy with LEAP or some other company that provides that service. 

Hey Gin,Great question—umbrella insurance is one of those things that seems simple until you actually shop for it.

Typically, you just need to have the company name and office address of the PM company to add them to your insurance policy--pretty simple process if your insurance company is any decent.  

If not I may just have to start a property management firm and crush the competition.It's not so simple.

Hey Bernard, my firm can get this done for you.