This idea of diversification is a very tricky philosophy to me. 

I don't have a lot of time or bandwidth to invest in a fixer-upper and I would like something with limited work. 

He said that he had never seen investor notes this poorly constructed to limit the rights of the investor. 

Can I use my current homeowner policy and just increase the limits?

I tend to focus so much on the seller’s situation that I sometimes limit myself in negotiations.

Great idea. :)

Our current tech stack is a mix of Buildium (very clunky), Breezeway (great, but limited without a PMS), Xero and Google Suite tools with lots of spreadsheets involved.

Do this quickly because some counties have a time limit on when you can appeal.I recommend you research the market for:- Comparable Property Sales- Condition of your property, including anything that may affect your property's value- If you are really serious, an expert appraisal may be worth the effort.

However, understanding the passive activity loss limitations is crucial before making this investment.

If you have wall thermostats in the home you can also consider putting in a thermostat which limits the temperature the heat can be set.