Can flood insurance be purchased for rental income property?

Answer Yes, for residential rental property, flood insurance can be purchased up to $250,000 or the replacement cost value of the property, whichever is lesser.

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Will rental insurance cover flood damages?

Residential Rental Property Income & IRS Tax Rules?

People have many reasons for renting residential real estate. Some people rent out their primary residence due to job transfer or loss, or as a means to make additional money after purchasing a new... Read More »

Is sale of rental property considered passive income?

According to the IRS, there are only two kinds of passive income: trade or business activities in which you do not participate materially, and rental activities. If you recognize gain from the sale... Read More »

What is difference between home owners insurance and rental property insurance?

Other than home owners insurance covering your primary residence where you live and rental property insurance covering a home that you rent to others there are a few differences in types of coverag... Read More »