Yes, talk to your Insurance Co.

Make sure you know your exact insurance costs with a specific STR policy that has general liability as well.

Life insurance might be another untapped source of liquidity to look into (if you have one in place).

Inspection Costs - $400 Lender Fees - $1,000 Closing Costs - $2,000 Mortgage Payments - $2,500 Property Taxes - $600 Utilities - $1,000 Insurance - $200 Commissions - $4,000 Selling Closing Costs - $4,000 Home Warranty - $500 Termite Letter - $100 MLS Fees - $100 

Operating Expenses includes taxes, vacancy, utilities, insurance, maintenance, and management fee.

Quote from @Chris Seveney: @Jonathan ChanI am all for communication - but how do you enforce that communications policy?

You don't need amenities like short-term and the people looking for MTR has expanded from travel nurses to displaced homeowners, future buyers, just sold sellers, relatives coming into town, insurance companies, etc.

Most would be better off with just a regular landlord insurance policy and an umbrella policy.

Maybe paying off credit card debt or other debt on your report to reduce the minimum payments, increasing the downpayment, finding a house that doesnt require HOA or flood insurance (if applicable), etc.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.