Normal home owners insurance covers the house, liability, a bunch of miscellaneous items, and all your stuff (furniture, clothing, appliances, etc etc).

You might have to put some basic furniture, but you could get $2400/month

We had to figure it out and we succeeded...sometimes better than those replaced and sometimes worse depending on the person who left and the person picking up the responsibility. 

Actually I almost spit my coffee out this morning as there is a guru in the "pick what I am selling today space" who claims to make close to six figures a year in passive income and was saying they made their money from investing in notes - and I saw them make a post today that "this is the reason I no longer do notes" in another thread.

Hey Golan,Over my 20 years in real estate investing, I’ve found that it’s crucial to pick a lane—either focus on cash flow or appreciation.

A single family house ,which needed some rehab and is now rented out on a yearly lease.I realy believe in BRRRR strategy and am interested in making a new and similar investment in this area.Outside of real estate, I enjoy furniture restoration, sports hiking and reading .Excited to learn and connect with you all!

Don't go more than 12m lease, and even consider a 6m to test the waters, though they will push back because it doesn't given them enough runway to buy the furniture and get runway.If your PM is going to be managing them, make sure that they are just VERY diligent on collecting timely rent and get agreement to do quarterly (or so) walkthroughs/inspections to make sure the home truly is being maintained.

FIG picks locations with great upside. 

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

The monthly rent to purchase price is typically 0.8 percent.As a first step, I was only looking to be able to find better deals which have a nicer rent to price ratio [once the deal is done, a PM company can pick up from there].