To my knowledge, guests also have trip insurance. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

There are still some docs required (ID, bank statements, copies of leases, copy of insurance, etc.), but it's WAY less document intensive than a conventional loan. 

For a single property, a strong umbrella insurance policy may offer sufficient protection at a lower cost.

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

We've never even had a tenant try to sue us over a security deposit dispute.For the last 10+ years, I have occasionally asked for just one example of an investor that was sued, lost, and the judgment exceeded their insurance coverage.

Who's name is the lease in, tenant or insurance company?

It doesn't necessarily hurt resale here although you have to know that you're going to be required to carry flood insurance which obviously can skew some numbers.

It’s also worth noting that Waivo is a sister company to Proper Insurance, which I use for my STR.