If the lot frontage is under the minimum of 25 meters, then I'd need a minor variance for that.

Tenants under value the cost of water.  

While some may find a modicum of success I find it waaay too competitive (I have seen 6 bedroom homes for under $200 a night). 

So when we had this property under contract for $92k ($95k purchase price with 3% buyer commission credit because I'm a licensed agent), it was an amazing deal.

You just need to have certain minimum underlying requirements per policy exposure.I do agree that having $1 million in underlying coverage is not a sufficient reason to not consider an umbrella policy. 

I briefly considered signing my STR over to an arbitrage group last year under much less favorable terms last year.If this suites you it may be advantageous.

The way that things like this are typically handled is that if a lawsuit were to happen, since both people have been behaving under the assumption of a lease (the landlord renting their space and the tenant paying rent), they would probably treat it as if there was a standard month to month lease agreement.  

We offered 30K under asking and got it under contract, after the inspection we were able to renegotiate another 10K off of the property due to repairs needed.

@Jason Stoferif you can get a property owner who will sell at a great price then put it under contract and wholesale it.

(3) My God how big is that rock your living under?