Owning to renting out transition

[Henry Peñate]

My wife and I are excited as today we have our inspection on our property we look forward to owning and one day renting out or doing a 1031 exchange but before all that we’d like to gain more knowledge on how we transition our current home to a rental property. We currently have home insurance and don’t know if that’s something we keep or do we get renters insurance, or what other add ons are recommended. Our home is ready for rental just for a few minor touches nothing major. And we are planning on refinancing and taking out an equity loan in the near future to continue investing.

Thanks to all in advance.