This allowed us to maximize revenue and occupancy more effectively.Safely Insurance: We also decided to use Safely Insurance, which provides comprehensive coverage for guest damages, liability, and protection beyond what Airbnb or Vrbo offer.

Most PMC's will add extra fees to help the company make some extra revenue.

If you have any questions feel free to send me a message and I'd be more than happy to help you get connected with some of these other essential people as well. 

Accurate records of all expenditures are essential to claim deductions and calculate the cost basis for future capital gains taxes, including depreciation recapture.This post does not create a CPA-Client relationship.

Hi, you seem like a potentially good candidate for DSCR Loans, a loan product that was essentially designed for exactly this - investors that want to build a portfolio relatively quickly and not be slowed down by DTI requirements or other hassles from conventional options.Would be glad to help, also check out this 12-part series published here on BP on everything you would ever want to know on this loan option!

Revenue stream.  

We have an insurance policy on the rental house (through State Farm), that includes a personal liability section, which is essentially equal to our current net worth.Given that a tenant could sue for more than this if an accident occurred, we are thinking about adding either LLC or an umbrella policy (or both) as extra protection.Any advice on which way to go, and if LLC, any recommendations for a law firm or company the Indianapolis area?

@Matthew Drouin had a great reply:"Typically 50% of revenue is going to go right to operating expenses on small multi family. 

I concur with @Patricia SteinerIt's essential to review your lease to check for any clauses related to pest control.

With this type of loan, the property revenue qualifies you for the purchase vs. your DTI or work history.