Allstate and State Farm in Illinois lately have been huge a**holes as far as providing coverage when a loss occurs.

So I take what you have and what you expect, estimate the time it would take in a whole year of work and create my flat rate.I notice short term rentals are about 1 hour a month of work per property, since we need to track each property's Profit & Loss for Tax time, this is also tracking a mortgage and depreciation as well for that property.

., so the $3-400 'cashflow' would probably be closer to $0 or a loss on the property they were analyzing. 

And the only job losses that result from raising the minimum wage are youth jobs and that's because adults will take them if they pay well enough to make them worthwhile.

Screen tenants, Implement thorough tenant screening processes to minimize your risk of vacancy and potential rental income loss.4.

Get ready to spend some serious time shopping insurance and make sure to get rental income replacement coverage in case of a loss.  

The loss given default on 2nd's can be much, much higher than that of 1st's.

However, we’re concerned about its current condition and whether we can sell it for a reasonable price.I’m looking for advice from experienced investors on the best course of action to minimize our losses.

I would also be added to the hazard insurance as an additional loss payee/mortgagee and have a lenders title policy for every transaction as a way of further protecting yourself.

This is different from homeowner’s insurance and will cover things like property damage, liability, and loss of rental income.