Make sure you get the right property insurance policy. 

The caretaker would be required to assume paying taxes and insurance plus upkeep.Both units need a fair amount of work prior to being rentable now that it’s been vacant so long.

Make sure you know your exact insurance costs with a specific STR policy that has general liability as well.

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

I immediately did what I had done with other rentals insure the property.

However, the percentage varies based on factors like location, property age, condition, and expenses such as taxes, insurance, and interest rates.

I ran the numbers and it looks like our house would not cash flow (between $0 to -$300 /mo) as a rental, mostly due to the astronomical property tax and insurance rates.

My career before REI was as an IT project manager at an insurance company.

I've seen landlords held hostage for years by tenants who know how to manipulate the law.On the other hand, sitting vacant costs you the mortgage, taxes, utilities, insurance, lawncare, and other expenses.

Why wouldn’t you get an umbrella insurance policy instead?