2) What are insurance and liability considerations?

If the answer to any or all of these questions is no, or you are unsure, then I would avoid the hassle (and future maintenance) of adding them.Another con to consider is added liability.

I'd have an umbrella liability policy. 

But keep in mind, if you signed an agreement agreeing to hold them harmless and waive liability, then that may be a problem to collect. 

A lot of brokers do not like to have a property manager under their license because their is more liability. 

Clear title, clear breach + release of liability… I have no problem releasing. 

I have landlord's insurance, and required the tenant to get an additional 2M in liability insurance. 

The umbrella provides coverage over the primary policies (provided you have the required Liability limits on those policies) for those vehicles as well. 

You may want to consult with an insurance agent to understand the impact on liability coverage.

If you just compare the main coverage amounts such as dwelling, liability, deductible, etc. you could be missing HUGE differences in the policy that are written in insurance lingo.Foremost is a good company.