Hi BP Community,  I have a short-term rental (previously Airbnb) that I turned into a long-term furnished rental because the neighbors house was damaged by a storm.

I purchased my Los Angeles (Compton) 4-bedroom home in 2013 for 240K; according to Redfin, it is now worth 686K. 2 years ago the entire house was completely renovated (Insurance claim) due to a burst pipe that caused extensive damage while vacant. 

Foundations vents missing or foundation vent screening missing or damaged  9.

If we go by the BRRRR method, we're already going to buy and rehab it, then would it not make sense to just flip it at that point and cut out the need to deal with tenants, home damage/repairs, refinancing, etc.?

The process is always the same, so it's easy to document any damages or changes.

I say halleluiah to hail damage every 10/15yrs.

In Vancouver 20+ years ago, a bunch of condos were built and they were not built properly and had to have massive repairs done due to water damage on the outside (we called them leaky condos). 

I'm finding this all very nerve-wracking a newbie.

I would want some major security deposit on file - maybe 6 months rent (personally), and / or possibly have them carry an insurance policy with you as the named insured for a descent value for any damages, etc - with the policy specifically written for the type of business they are actually running.

Purchased all cash as a major fire damaged home & knocked almost all of it down and re-built it with new addition and rooftop deck with jet-liner views of the city!