Obtain the necessary insurance as well to guard against any hazards or damages that may arise throughout the renovation process.6.

I don't remember that legal argument arising in the last couple of cases I was in, so it just may not have been addressed.   

The landlord has no interest in the personal property coverage, but they absolutely have an interest in the liability side.When the landlord is listed on the policy as "additional insured" it extends some coverage from the tenant's policy to the landlord in case of certain liabilities arising from the tenant's use of the property, like accidents or damages caused by the tenant's negligence.

House hacking isn’t passive income; it requires time, effort, and a willingness to handle problems as they arise.### 4.

But once you have tenants, the big question arises: Should you self-manage or hire a property manager?

Having a rock solid SOW can prevent many of the issues that arise during any project.

Definitely agree and they are not getting a dime but I do need to send an itemized letter with all the deductions within 49 days and that's is where my question arises?

The main risks I would say to watch out for are any family dynamic issues that could arise as things like this could lead to issues that didn't exist previously.

Not sure on your timeframe, but AZ is currently a buyers market (like I'm sure a most states are) due to a rise in inventory and interesest rates.

But if the situation arises I can't afford to have a tenant fall back 2+ months on rent.