There are fix and flip/rehab insurance brokers, and as anything shop around to find the best rate! 

Yeah, you’re right to pause and think through this.

I actually run a co-investing group where we pool capital to invest in syndications and other deals together.

Covers last 3 years or so, and then they start shrinking up, not fitting tight, and allowing heat to escape.

@Joshua Lopez and @Erica Larence-Penna please feel free to reach out. 

I've been noticing a renewed interest among local buyers and investors toward preconstruction projects in South Florida, particularly around Pompano Beach, West Broward and Homestead.Some key factors driving attention toward preconstruction again include:- Lower initial pricing compared to similar resale properties- Flexible payment structures, typically spread across the construction timeline- Potential for equity appreciation from purchase to completion- Reduced early maintenance costs thanks to builder warranties- Emerging communities allowing more flexible rental terms, sometimes including short-term rentalsHowever, not all projects offer equal value.

My first property I bought at an auction in the city of Baltimore for about $39k and it rented for $800 mo.

But knowing your local market and having boots on the ground is a big advantage, especially when you’re just starting out.A lot of people mitigate the risk by focusing on better neighborhoods where tenant issues tend to be fewer, and some just factor extra reserves into their numbers to cover longer vacancies or legal costs.There’s definitely a trade off between control and convenience in your backyard versus friendlier laws out of state.

Since its in his name, if you deed it to you its going to be an arms length transaction and he may have tax consequences etc (as may you down the road).

At the time he would have been 20 and he now has a child and a wife.