After careful consideration, we’ve determined this increase is necessary due to our increased utility and maintenance costs.

It was with that consideration that I listed the property at $1.05.  

Prospective Oregon Coast STR investors are encouraged to be fully prepared for rapid execution and to expand their search to areas that might not be of initial consideration as licensable inventory is increasingly limited. 

Your key considerations include loan approval, property management, market research, legal ownership, tax implications, and an emergency fund.

If there is no coverage, the question becomes, what is the value of loss taking into consideration depreciation? 

You also have to take into consideration this is a condemned building, so you will need to get permits for all the work you will getting done on the property, Also, given that this is SV and not a prime area on the west side your ARV will not be high.

I do know people that rent in this market with success, but not without considerable headaches (I do not own rentals in this market). 

@John CampbellThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

You might also want to take into consideration if it's a single-family or a multi-family.

Its a consideration, but unfortunately not as simple a solution as I would hope for.