I also had to upgrade the fire protection between floors. 

The majority thing about insurance is to protect the HOA from being sued and to protect HOA board members also. 

Very conservative approach that protects the seller.There is a long thread that covers what I'm talking about atPace Morby Mentorshiphttps://www.biggerpockets.com/forums/79/topics/1001612-pace-...  

Readers should seek professional advice.Great responses hereHowever, full site visits, though more expensive, maximize tax savings by capturing every depreciable asset and offer better audit protection....This post does not create a CPA-Client relationship.

@Charles Evans Zelle and Venmo do not provide the same protections as a third-party rent payment portal.

@Desiree Board For your mix of long-term rentals (LTRs), short-term rentals (STRs), and house flipping, an LLC is ideal for liability protection and pass-through taxation.

This creates an initial negative equity position that consumes the initial cash flow, sometimes for many years.

Often times they come back with a list of repairs that they would like to see to protect the home or mitigate liability. 90% of the time those items were on our list to fix anyway, and sometimes we even haven't done before we get the letter from the insurance company.

Requiring occupant to have renters insurance is another possibility for extra protection.

The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?