Utilizing empty lot space in this way helps to combat the increasing housing prices and limited supply many markets have been experiencing.

Single family homes are usually the best as they have fewer limitations.

Auto limits of 250/500/250 and Homeowners liability of 500K should be the minimum you carry.

It also offers a chance to shift into something more passive, reducing the hands-on management that seems to be more of a hassle now that you’ve moved.That said, the rental income potential from your properties is worth noting, but there’s a limit to how much you can boost your cash flow, especially after already making significant upgrades.

However, what if you prefer simplicity, limited risk, and are living off of the income? 

Some thoughts on your situation overall:In terms of vetting, I personally there is a limit to how much you can mitigate risks when working with a smaller contractor.

.- The money partner is not the only owner of the company which owns the property and thus has limited decision making over the property.

For one you can't limit usage.

You can absolutely use classes in place of customers but classes are limited to 40 with QBO Plus.

it may be jurisdictional specific, but it would certainly limit the sources for providing credit reports.