Yes you have insurance, but it may not cover everything.

Umbrella Policies are good, but they are not an asset protection tool, they only cover litigation/damages after you’re already in litigation or found personally liable.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

If your property manager is not listed as an additional insured, they may not be covered under your policy in the event of an incident on your property, leaving both of you potentially exposed to liability.It can save you money.If your property manager is not added to your insurance policy as an additional insured, they may be forced to purchase their insurance policy to protect themselves.

In the first 10 days listed on Airbnb, the STR rental revenue booked covered the entire mortgage.Lessons learned?

This would make a great co-hosting opportunity without worrying about making enough to cover rent.

I've had clients rent by the room short and midterm and covered their entire mortgage.

By adopting the house-hacking method—living in one unit while renting out the others—we plan for the tenants to cover the mortgage and gain valuable property management experience.

I guess that's part of my question, if you could have the security deposit cover that and people's experiences so I could better prepare myself. 

Right now, even if you have no reserve money saved, if a bad situation came up you could tap that 401k to cover the situation. 3.