Thank you, Nathan for such a complete and convincing response.

Your CPA's assertion that the insurance proceeds won't be taxable if reinvested entirely into the property is accurate; however, it's crucial to address the issue of depreciation and potential partial disposition separately.A partial disposition allows for the recognition of a loss upon the disposition of a portion of a property.

They should be responsive and communicate clearly, possess a strong understanding of the local market, offer reasonable rates, and support borrowers throughout the process, all while ensuring legal compliance to protect your interests.

Give them a triple net lease (meaning they pay rent, and they're also responsible for insurance, utilities, and maintenance).

But, I'm going to need to do the networking myself to build partnerships with local vendors and source merchandise, and all they'd be responsible for is letting me know when it needs to be restocked. 

Thanks for your responses!

You need to investigate and figure it out.If you include utilities with rent, I recommend placing a limit so the tenant is responsible for excess use.

However - if you self manage the asset - you're correct that you will have additional responsibilities related to keeping your books fresh, up-to-date, and in order. 

While it is most common for SFH lawns to be tenant-responsibility, we are offering a weekly mowing service for $100/mo due to being such a large lot, if applicant/tenant so chooses. 

If you are responsible for any type of a central furnace recommend shutting off the heating portion of it if possible during the summer.