Frankly, no matter how well you do safety, dumb guests will find some way to hurt themselves so insurance is a top priority.

Not sure how many PMCs you've had bad experiences with, but we'll take exception to:"Then do a thorough research on tenant applicants (note: leaving this to a PM may be hazardous to your financial health)".BP seems to have more threads about screening mistakes by DIY landlords as opposed to PMCs.Now, if you'd have mentioned Maintenance, you'd get no argument from me:) Even the PMC industry acknowledges maintenance as one of the biggest challenges.Rereading my post, I kinda see how I sounded negative toward PMs.  

No but I attended their 3 day event that was $300. 

He is no longer responsible for insurance, maintenance, or dealing with the realities of renters. 

If he kept the house, then your statement would be correct, because there is no immediate taxation of insurance payout.

You'd need to clearly specify the arrangements so that there are no surprises, of course.

There is no current tax on rental income and capital gains.

Hey Stephen, since you are no stranger too renting at the moment.

No legal advice here, other than get good legal counsel on those two matters. 

I go in the unit, no signs of mold and sturdy cabinets.