Hey Folks, anyone in here knows the answer to this situation:If you buy a vacation home and the appropriate insurance for it at closing and then the insurance company inspector comes and views your house after a month or so and it is vacant as expected - then things check out, but if they see tenants living in the house - then the owner of the house has to change the vacation home insurance policy to a renters insurance policy?

My question is about renting.When you advertise a unit for rent, do you charge an application fee & have them perform a background/credit check prior to seeing the unit?

NOI of 100K - I would check on cap rates as in legitimate from a commercial real estate Broker in the area not how they are discussed on this website to determine actual value.

Check realtor or Zillow for comparable homes in the area.

I have an appointment next week to check out a home.

I've checked to make sure the property is still available and it doesn't appear to be pending closure.

I would suggest you check the sales comps to see what the property is actually worth first and foremost.Then I would check the rental comps to see what this property would generate on a normal annual lease.

I've manually checked price of Triplex in that area with 3 bedrooms each and they are recently sold for $375K. 

hey im glad to see other 20-30 year olds on here with the same mind set as myself. im still looking for my first deal aswell a few things i do is check some of the popular real estate apps religiously every dayive also tried direct mailing on some properties ive driven by in hopes of finding a deal but lately not many people and interested in parting with their properties, but the key i keep telling myself is when you get a door closed in your face go to the next one and keep trying!

You can also check their reviews online at Google, Facebook, or Yelp.