I know there is surety bond process and there a a few companies that appear to offer a service (Like Rhino)Furnished Finder has a new feature called Worry Free Waivers but when I tried  to better understand their process, it was clear they have not done a good job of vetting this out. 

@Lexi Blocksom If the burden of holding the property outweighs the long-term gains, a 1031 exchange allows you to defer all taxes, and you won’t have to recapture depreciation.This option enables you to use the deferred tax benefits to purchase nicer properties in areas with greater growth potential.Once you complete your exchange, you can immediately do a cash-out refinance if you need access to some cash, tax-free.

You are converting their tax free gain in to a taxable gain.

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What are your short term goals? 

@Joel Oh- if you are using a loan to acquire the property - the lender  requires  insurance ....if you own the property  free and  clear - your  choice  but I would still  recommend  insurance 

Purchase price: $170,000 Cash invested: $30,000 This is an international short-term rental property on a Greek isle.

We currently own/manage properties across a few states including Hawaii so we aren't new to managing short term/mid term rentals.

If you want real numbers and insights, I have a ton of resources on that.Happy to answer any specific questions, but the short version?

You are already succeeding by living for free, which will increase what you can save for the next investment.1-2 years later, buy another one and turn the first property into a pure rental.