Objective: I am really interested increasing my rental property portfolio reaching certain amount of cash flow.

The work got done, but definitely not to my standards.

Am I improperly estimating the expense and income increases that's affecting profitability?

What is the standard protocol when you pull funds together with other investors?

In most part of US the last 6 years in every neighborhood home values increases 8-15% a year.

In my case, I want to keep properties in different parts of the country and have a good property management company to take care each of them (so less headache and more time to focus on increasing your RE Assets).

Also increasing coverage a lot does not cost much as the insurance company knows that suits above $1m are rare.  

Pretty standard moderate renovation.

They built community centers, and increased the police force by nearly 35%. 

A standard homeowner’s policy probably does not provide coverage for an investment property, a property that is vacant or a property that is under construction or being renovated.