@Derrick Roland II Let's see, traffic noise, challenges backing out of your driveway, have to keep kids in backyard and off front sidewalks, big trucks passing by will shake the whole place, can't think of anything positive.All the negatives will reduce your max rent and make it harder/longer to find tenants.What's more important is understanding if the Neighborhood is Class C or D.

Four kids in one room and the baby in our room.

Pinellas county has all kids of different rules depending on exactly where you are.

Thank you for the insight @Ryan BlakeI'm definitely looking to do everyrhing above board.

The majority thing about insurance is to protect the HOA from being sued and to protect HOA board members also. 

I'd probably find a board certified real estate attorney to do it. 

There are a few things to watch for: if you are a nurse and work night shifts and your tenant has kids that make some noise, it may not be a good situation. 

I started down this journey once I realized that being a youth pastor alone would never provide the financial future that I want for my wife and kids so I started investigating real estate and reading "BRRRR".  

A family (unmarried couple  , 2 kids and brother in law ) applied for my 4bdrm rental.

Not that I got any business from it, but I really liked the young wholesalers (they were good kids that are just trying to do it the right way) that threw it as well as a few of the people that attended.