Having the right insurance coverage/riders is critical - if you're not properly insured and something happens, the asset could potentially be wiped out.

I can offer partial or full operation, setup, schedule organization, property maintenance, on-call/out of town coverage.

The cash flow (or actually the net income before taxes) from the property (doesn't matter whether it is a single family or multi) should have a DSCR (debt-service-coverage-ratio) of at least 1.20 or more.

Keep it simple and get an umbrella policy for extra coverage.LLC property manager can't file in court the same as you as person, your liability coverage cost increases, any code violations are treated differently, your bank account cannot be not mingled...

Want to make sure we have good coverage and not missing any hidden red flags since we are out of state investors.

From the feedback I've gotten from the mockup, if you have coverage for at least 100% electricity offset, then it would work.

Your lender will also have minimum guidelines for what they require, but I recommend getting rental loss coverage on your deals.

My assumption is if 2nd floor patio door has overhang coverage, that’s a hard/steep angle of direct rain intrusion above the sliding door.  

google lolDebt service coverage ratio (DSCR): The DSCR is a financial metric that compares the property's net operating income (NOI) to the loan payments.

However, I've had a very difficult time finding any insurance carriers that will provide this type of coverage.