Renting a home with a pool

[Marty Summers]

Hey everyone, We have recently purchased our in-laws house because they moved to Florida. After living in our 2 story 3 bed 3 bath home for 12 years, we found that while moving out that our home needs paint, carpet, new flooring in the kitchen...etc. Badly! We have new furnace, roof, garage doors, water heater, water softner, dishwasher, garbage disposal. all replaced within the past 5 years. The home is beautiful and has potential...would probabably sell as is for 225 - 230. We could list it near 280k if it was updated. If it costs 15-20k to fix it up how we want and without spending my own capital, my thought is to rent it for a year cheap at 1250 per month...as is and use that cash a year from now to dump into the home after my tenant pays for it. ;) So here's my question; if we rent it out, we have a 24 foot above ground pool and Jacuzzi in the backyard. Do any of you have experience with renting a property that has a pool or Jacuzzi? I need to understand how I can waive any liability on me if their kid, dog, friend, relative or neighbor drowns in the pool. Thoughts please???? Thank you all so much! you are the best. -Marty