Foremost, Proper are 2 big ones.Don't skimp and get the place insured properly.

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

The December 2024 report from the Austin Board of REALTORS® (ABoR) shows stable housing prices and balanced market conditions in the Austin metro as we reached year’s end.

Insurance typically covers only the directly damaged area, not undamaged flooring, even if it's continuous.

The "purely code" stables, I wouldn't suggest.

.: Hi there, my STR in the Hudson Valley, NY is currently insured with Proper.

Insurance right now is wild, so I'd get a solid broker on your team - I'd be happy to share my contact if that would help.Also, aren't most of the existing insurances shared on the OMs for the properties? 

@Eric Robertson I'm the founder at Obie Insurance.

Glad you are setting aside money, but if the HVAC is 20 years old, or the septic system has never been pumped, or the roof is 25 years old, etc; you will get hit with a cost before your build up enough set aside.How stable is the other tenant? 

I personally like Alabama and Tennessee a lot, depending on what specific area you're looking at.Look for Class B or C properties in stable rental markets, particularly single-family homes or duplexes.