Requiring occupant to have renters insurance is another possibility for extra protection.

@Desiree Board For your mix of long-term rentals (LTRs), short-term rentals (STRs), and house flipping, an LLC is ideal for liability protection and pass-through taxation.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

Readers should seek professional advice.Great responses hereHowever, full site visits, though more expensive, maximize tax savings by capturing every depreciable asset and offer better audit protection....This post does not create a CPA-Client relationship.

I also had to upgrade the fire protection between floors. 

This may be needed to protect you from claims later.4.

Houfy now has a damage protection plan that costs the guests $5 a night and does light identity screening through SuperHog. 

@Charles Evans Zelle and Venmo do not provide the same protections as a third-party rent payment portal.

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

My husband and I have personally flipped, built, and own rental properties, so we understand firsthand how critical it is to not only maintain good tenant relationships but also to protect and enhance the value of your asset.