The bottom line is this: Concealment is not asset protection, proper (time consuming and expensive, I know) management, and good, prudent, practices (ditto), WHICH ARE ADHERED TO, and insurance (expensive), are needed for asset protection.

.- Tell them they'll have to provide you with a copy of their renter's insurance naming you as additional named insured, with a minimum of (I use $300,000) liability insurance, also before they move into the unit.It's not perfect, but it's a start toward a tenant transparency.

That's easy compared to trying to fight and erroneous $13k water bill (a real issue we had) or an insurance policy tripling (that too).

The two-count indictment charges them with conspiracy to commit wire fraud affecting a financial institution and conspiracy to submit false statements to a federally insured financial institution.

Our insurance has been canceled on this home and we are working on getting insurance to cover when this current one ends.

Insurance being canceled due to the area and finding insurance for it.

the way to go about it is turn it over to your insurance and get the police report.. sometimes insurance will then subjugate the claim and go after the tenant criminally I had that happen on one of my rentals where the tenant did 40k in malicious damage on a new construction home I purchased in MS. 

More insurance will cancel short term rentals.

It's not your fault that the tenant has to vacate, so the tenant should have insurance to protect them against any additional expenses.

There are opportunities out there but some strategies are risky. 1 - Airbnb (STR) comes to mind - very competitive, very saturated and becoming highly regulated.2 - Most STRs are transitioning to MTR so that market will be saturated soon if it isn't already.3 - Insurance crisis in florida is getting bad so those costs will eat up cashflow and short term appreciation.