I already have 2 loans on the property with great interest rates that I'm not looking to replace.

Washer dryer, maybe if I could fine nice looking ones.Depending on the quality of the rental property, I would look at nice used replacements for a range if the house was just in service and between tenants.

I am going to see if I can switch to a local Wisconsin insurance that reflects our local risk level in their premiums.Many of the homes in the Pacific Palisades are 3-5 million, but when you look on Google Street View, most are very modest homes from the 1960s (there are some $20m ultra luxury mansions too), so a lot is the land value, the home replacement value on a 1600sqft may be what - 500k at the most?

Just replace and move on. install lights. 

Using LVP was a smart choice—it holds up well when wet and is cost-effective to replace.

Any type of investment real estate anywhere in the US can be sold and replaced by any other type of investment real estate of any number of properties anywhere in the US.Washington to CA is perfectly fine.  

Hi Marc - Aircover offers some protection for damages caused by guests, but it’s limited and doesn’t replace having dedicated STR insurance.

It all cash flows like a gold mine until the roof needs to be replaced, the main line goes, or you get your first turnover bill and need to upgrade a kitchen. 

While they did try to get the lender to work with them, they don't want to replace the management company because they are part of the GP.

This is not a great return, but not terrible.As others noted, there are other risks, like having the property insured at full replacement or purchase price, or if the option is 100% seller financing with no money down or very little, versus 20% traditional down payment, this can start to move it into a better investment.