The bay area has many old houses so be aware of what it will take to being them up to code and meet insurance requirements.

He had insurance on the S-Corp for one million and none for himself.

Yes, you can deduct related expenses including gas, loan interest, insurance, etc. using the actual vehicle expenses method to deduct auto expenses for your rental or other businesses. 

And given #3 above, it leaves about 20% of rent for all other expenses like property tax, insurance and other PM expenses like leasing fee, eviction fee and other minor expenses like for e.g landscaping, pest control etc.

Prices are through the roof, Insurance cost have skyrocketed, maintenance cost are up a lot, taxes.

Work with your commercial lender/insurer/lawyer/personal banker and see if they know of any interested parties.4. 

It’s also worth verifying if Beaumont and Port Arthur have any specific contractor registration or insurance requirements, as local compliance can sometimes impact project timelines. 

“ cash flow returns” almost always compare horribly to a simple bank CD after you deduct for insurance, prop taxes< vacancy, capex, prop management (or your personal time.) etc etc etc. 

I get an insurance policy for each guest so if they break anything, I feel covered.  

This was the first property we carried flood insurance on, during our project.