@Sehun Kook,
I think that what you have as responses from @Neil Aggarwal and @Mark Martinez
are accurate as far as the owner paying for the building expenses and passing other things like repairs and such to the tenant.
I will touch on the insurance part a bit. You want to have good landlord insurance of course, but I would also recommend that you require your tenants to have renter's insurance.
If your properties are nice, most tenants won't have a problem. When I rented, it cost about as much to have renters insurance as not, because my insurance company would bundle my autos and renters.
So the math looks something like $200 for auto insurance w/o renter insurance. Then if I got renter's insurance that would be $50 and my auto insurance would go down to something like $150 or $160. So the net is that it would hardly cost anymore.
The important thing about renter's insurance is that when your tenant has a guest who comes over and spills boiling water from the stove on their hand and gets 3rd degree burns and now can't work for a month after an expensive hospital visit, who do you think they are going to come after for some money???
Yep, you as the landlord.
So if your have renter's insurance as the first line of defense, then if there is a claim for $5000 or $10000 it would probably be covered by the renter's policy before it would go to your landlord coverage.
It really adds another line of defense for you as a landlord.
It is a hassle to get your tenants to show proof of insurance and in some cases the tenants won't do it.
Good luck on your real estate journey!
