Just started the free trial of Rentalhero and it looks like it will be able to cover everything I need for my 2 small MF properties.

Hi Kevin,I have a couple of rentals in Fredericksburg and I allow pets (charging a pet deposit and monthly pet rent to cover damages and wear and tear).

It appears you are able to hold her responsible to cover damages and lost rent.

Down payment on FHA is 3.5% so you’re not wrong there and safe to assume another 2-4% for closing costs BUT you can negotiate seller assist to cover bulk of the fees if not all.

You’ll want to make sure the rental income comfortably covers the new mortgage, taxes, insurance, and any maintenance costs.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Covers all aspects of marketing self storage.  

Umbrella insurance is crazy cheap for the benefit, and it already requires you max out your liability on your other covered items.

Ensure the STR’s projected income comfortably covers new debt, even with conservative occupancy rates, and maintain reserves for market changes or vacancies.

What service or value are we providing that it covers?