As Shawn mentioned above insurance is going to be a HUGE deal in Gainesville as well as HOA's.

I may need to check on this, but my insurance company told me years ago that a tree in good health falling is an act of nature and the responsibility of whomever yard it falls into. 

Hi Pegah, consider this -renters insurance may not be available at all during the entire time they lease from you.  

Right now we're inquiring with our insurance provider to validate proper coverage, checking with our rental license if it covers uses like this, and working through what a lease would look like. 

Totally random but I know you can normally get a nice discount on your hazard insurance if you're within a certain distance of a Fire Station @Ray Ebert

I can pay utilities, insurance, and other holding fees but I won't have enough to pay other cost like listed above.

@Kenneth Jenkins you forgot to mention owners that expect a PMC to use contractors off Craigslist that are unlicensed, NOT insured and rarely have acceptable experience/skill - but, they quote the "best" price.These same owners will sue a PMC if using these types of contractors results in a tenant lawsuit.

---Are you talking about insurance?

Yes, I require renters insurance.

This creates two loan payments ($100,000 of equity and $300,000 on the new mortgage).Key NumbersHome Equity Loan Interest Rate: 6%Mortgage Interest Rate: 7%Rental Income: $3,000 per monthExpenses (management, taxes, insurance, maintenance): $800 per monthIncome and ExpensesMonthly Rental Income: $3,000Monthly Expenses: $800Monthly Mortgage Payment: $2,000ExplanationThe investor earns $3,000 in rent each month.They pay $2,000 on the investment property mortgage and $800 on other expenses.This leaves $200 profit each month or $2,400 per year.However, you have to pay $6,000 interest on the equity borrowed.This leaves you with an annual loss of $3,600.While the rental property generates positive monthly income, the interest cost of borrowing the initial $100,000 results in an overall loss.