@Andres Felipe Alba Hernandez Yes, neighborhood covenants can sometimes restrict certain activities, including short-term rentals (STRs) or renting out parts of a home, even in areas without a Homeowners Association (HOA).

I recently completed a major renovation on my property financed through a Fannie Mae HomeStyle Renovation loan, and I'm now looking into options for removing Private Mortgage Insurance (PMI).

Did you ever find out more information about insurance and liability?

The highest appreciating markets and those with the greatest rental demand/price- like those in Florida and Texas - also cost more to acquire and insure. 

@Nathan Frost uhm, not sure you understand Detroit market.Motion lights & cameras may work half the time at best.Too many insurance claims will get you cancelled and eventually black-balled.But, what do we know after 24 years in the Detroit market...

Does renters insurance cover something like this?  

I can guarantee you'll need documentation of lease, and rental insurance before closing on another home.

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.

I also like to use incidental insurance as an additional layer such as Waivo to cover items.

Quick tips…✅ Everyday Homeowners - track all home improvements as you could qualify for energy efficiency home improvement credit - new exterior windows, new central A/C, new hot water heater, new insulation material.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....