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.

Finding a solid property management team is crucial, especially when managing from out of state.Having everything you need under one roof can really make a difference.

But if you use multiple emails as I do for my businesses each Gmail account will have its own google docs space, I found it hard to manage all under one roof.

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.

I had an inspection done and the house needs a new roof.

Your insurance covers your stuff.

While I would love to keep it for just us, having rentals to cover the full cost of carrying the property has been great.

Think of these as savings for big-ticket items like new flooring, new appliances, or a roof or siding replacement.Because maintenance and capex can be “lumpy,” you may think that you’re generating more cash flow than you really are.

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.