At various times during the past 25 years he “specialized” in oil and gas drilling, franchise sales, surgical center investments, office centers, start up incubators, vitamins, mobile washing equipment, cemetery syndications, residential mortgage brokerage, commercial mortgage brokerage, insurance as an investment, long term care insurance, and property development in Mexico.  

@DeAnna McKillop-LopezKeep it simple to start, unless you have more than $10M there is no need to do anything but by the property in your name and get insurance if the property is a single family rental.You can do all these other methods but they just cost you money every step along the way.

My properties are insured.

@Charlie Martin Buying under an LLC offers liability protection and separates business finances, but it can complicate financing with higher rates and stricter terms, and lenders may still require a personal guarantee, impacting your DTI.For your first property, consider purchasing in your personal name for better loan terms and transferring it to an LLC later if needed, while using strong umbrella insurance to mitigate risk.

As long as you're making payments on time and have proper insurance on the property, banks are happy and don't want to call a loan due. 

. - Many HOAs have LTR restrictions and some now have implemented STR restrictions.Also, hopefully you've updated the home insurance policy of your current STR rental from a homeowner's policy to a landlord policy.

So as long as your insurance, property taxes, property management, utilities maintenance, repairs, vacancy, and capex come to $4/mo or less you’ll be fine.

Unfortunately, you may have a hard time enforcing anything about "guests" unless policy/procedures are outlined in your lease.  

One of the primary issues is the impact of rent control policies.

Realtors have companies and insurance to cover lawsuits.