Again, 99% of lawsuits are probably settled outside of court and covered by insurance.

I've posted it before, but here's the comparison chart cover 15 different STR PMS solutions I built out to decide on the PMS Formerly Known as YourPorter (now Guesty for Hosts).

My wife and are implementing this "Nomad Strategy" and are about to start looking for our 3rd property here in Colorado Springs.The major issue right now is interest rates, and the fact that if you only put down a 5% DP and borrow the other 95% at a 6.5% - 7% rate you will not even come close to covering your mortgage with the rent when you move out next year.So, we found a VA assumable loan (FHA loans are also assumable) with a 3% rate and a seller who had an overpriced listing because he was pricing to break-even after paying off his debt and closing costs for selling the home. 

That covered not only the liability from my property to me but also the liability from me to the properties.The umbrella insurers want to be insurance of last resort so will have you beef up liability on your rent properties.

Quote from @Bruce Woodruff: So that's 7 months......now investors will have to add a bit into their flip budget to cover the extra 3 months (or so) holding costs... will make overall costs go up though... 

Thats the key, with out knowing all of this then its just a shot in the dark or having bits and pieces of info and trying to solve the financial freedom equation with out the full "picture."

Using it as rental which covers all costs associated with ownership.

She has a 5.25% loan, her PITI $1K per month, and she pays $25 per month for a homeowner's warranty that covers everything. 

., take pictures of everything.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.