We BRRRR 8-10 peryear and the flips supplement the money left in the BRRRRs.

See attached Supplemental Income and Loss, statement. 

Regardless of your choice, it is crucial to maintain the property in good working order and have sufficient insurance coverage as a defense against liability claims.

You will need to insure the building improvements and you will want general liability coverage.

You'll be exposed for some time, that's your down side.Most of this board opts for this route of umbrella coverage, but I disagree with a lot of what this board pushes.

Tons of rating factors that impact the price from one property to another.I say this without even considering coverage, service, and what you might want as there are usually choices to be made.Your best bet is to work with an independent agent that can provide advice along with multiple options for every scenario so that you can find the best value in each situation.

The DOR has a history of checking up on QCDs for compliance with the statute.Florida Dept. of Revenue - Documentary Stamp Tax (floridarevenue.com)Third, it's a common misunderstanding that conveying title via WD somehow provides continuing coverage under a title policy while a conveyance by QCD does not. 

My parents bought their unit in cash, I supplemented $30k and the rest was owner financed.

@Kyle Keller Yes It is called self insure, good news zero premium, bad news zero coverage.

This needs more coverage to combat the stereotype that landlords are all greedy and need government regulation!