I always got a DP3 policy with $500K in liability coverage on my SF rentals.If grandpa is living in your place, his personal items are not covered.

Things such as hot water tanks, carpets had to be replaced in a few years, so I wound up depreciation some items more than once.I sold a rental last year for $430K that originally cost me $70K as an investment property.

There are some important items to be included but you simply say what you want about who owns want etc.Apply for a federal tax ID number online at the IRS site.  

What recommendations do you have in terms of what to take a look at/action items after 1 year? 

Employment/Economic Diversity/Demand DriversNow if you can buy a house let's say 4-5 bedroom and have your kid live in one for 4-5 years and is the kind of kid who is responsible and a hard worker and a good networker and can keep the bedrooms rented for the next 4-5 years, there certainly could be an opportunity there.

Answers my main question that people do have many, many separate checking accounts for each property - keeps line items separate for bookkeeping purposes.

There are items in every home which will require constant maintenance, meaning yearly or every other year such as the furnace-A/C, toilets, faucets, main drains, and gutters. 

I am more concerned about roof damage since that is usually the biggest ticket item. 

And I turned on the utilities in my name and the condemned notices were removed.Another item in my leases is that they must notify me if the property is to be vacant for more than 7 days or it will be considered abandoned. 

.#5 Higher Resell-ability and Market Demand:Single-family homes with ADUs cater to a diverse pool of potential buyers, including investors and owner-occupants.