However, to protect yourself, you should also obtain a separate STR or landlord policy that covers the specific risks associated with renting out the property.

I’ve heard there can be liability issues with having a pool at rental property, and that insurance companies don’t cover rentals with a pool.

Your insurance covers your stuff.

Do you have a better solution to be able to cover the costs of running a business without ads?

Risk Management: Securing enough funding to cover unexpected expenses during the renovation is a challenge.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

For myself, I would find a nice house hack maybe in Ohio, that seems to be all the rage right now, and have most of my expenses covered (your not paying it totally by yourself and can still save money that way). 

Did we need that housing expense covered to build a business?

I continue to work and earn to cover my costs and save some.