If a quit claim deed was used to transfer title in a normal sale one just wants to make sure the chain of title seems clear and that the owner issuing that deed had clear ownership.This is why we have title searches done and pay for title insurance to research these sorts of things and to protect us against the oddball unforeseeable circumstances.

Additionally, how should I work with my insurance company/police/contractors to prepare for the worst?

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

For stuff you’ll be doing add that in too.. better to have worst case then over budget and no money left over to finish..Good luck with the remodel...

Like windows open, lights on, door left open, that sort of thing.

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Most markets will have some sort of local STR host group on Facebook you can join, or I would even do a quick search via Airbnb and find a host that way and message them and ask them to lunch or coffee to pick their brain.

So partial deduction allowed up to 150kI would be careful giving him a deal on rents as the IRS could classify this as some sort of hobby or non investment property due to not being at or near market rates.

I don't know all of them but have been on BP long enough that if I were you, I'd talk to at least @Jay Hurst and @Devin PetersonYou could also bypass all Tax Return programs and go NonQM of some sort, such as a bank statement or other type, but you'd still have factor in your rentals. 

Being in STR, there are all sorts of things that pop up and being resourceful and creative in problem solving is huge.