In the next few months, I'm looking to get a standard CA NAA lease with RUBS included for billing the water and sewer, as well as requiring tenants to have their own renters insurance, as that is not something they are currently required. 

I filed an insurance claim on our landlord insurance and got a remediation team in there immediately to stop the damage.

Holding onto it is a smart decision, and you're entering property investing in a solid position.To get started, focus on ensuring that the rental income will cover your mortgage, taxes, insurance, and any maintenance costs, leaving room for profit.

If your insurance coverage isn't enough, they could seize the LLC assets, but not your personal assets.Additional thoughts:1.

High property taxes and increases in insurance are very real there as well.

I would also recommend umbrella insurance equal to your net worth.

Quote from @Zachary Engen: I just got 2 airbnb up and going last month and I have a property manager, he also gets MTR insurance bookings.

I reached out to an insurance broker today and he had indicated that we would need a constructions insurance policy for the renovation phase of the project.

Adding to this - any insurance agents here who can take the time to walk me through options rather than just send me a quote then harass me to sign pls message me :) 

(average of $400/m) $7000 annual expenses roughly- insurance, septic Mgmt, lawn care, etc.