@Stephen Fleming your cashflow probably won't be what you think it will be:(Have you factored in the new property taxes at homestead millage rates?

There may be tax implications to that maneuver, so check with a CPA.

I turn over to my insurance company and they are paying for the lawyer to fight the lawsuit. 

But, you still own house and benefits are as follows.1. tax benefits2. principal payoff on your note.3.

You can probably beat $2000/year insurance, but the management fee should be 10%, you need to factor in turnover too and 5% is probably not enough for both maintenance and turnover and I assume you added it, but you didn't mention property taxes (which have been terrible in Jackson County lately since Frank White decided to jack them through the roof). 

How do we minimize taxes on the profit we're making on this first home? 

We worked with a lawyer over there who is a US ex-pat who created and registered a local LLC for us, which owns our properties.

Great hosts will be good neighbors, will contribute to local tourism and will pay their taxes and permit fees* A major area to improve on the proposal is the 1 hour time-limit for resolving complaints.

These are features like online renter payments, tenant portal (for payments and work orders), help keeping track of work orders, tax reporting features, and accounting functionality.

There may be something called a "Due On Sale" clause.Check and see if all tax parcels are included in one mortgage or if they have separate mortgages.You have to have him spell out what he considers to be a "partial seller financing".