Many contracts allow for the buyer to do some due diligence that could include things like inspections, zoning, whether the property is insurable, etc.

I feel like these are my only options:- House Hack: Would I still need to pay the 6% tax rate if I'm getting rental property insurance?

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

I tell this to all of my investors - whatever you buy in Columbus Ohio, you want to hold for the rest of your life!

Keep in mind the maintenance of 3.3 acres especially with insurance and fire mitigation. 

In 5 years and almost certainly in 10 years Scenario A can change your life. 

We have had a pipe burst during the cold winter months, the roof needed to be replaced (thankfully covered by our insurance), and some issues with electrical, which hasn't been majorly updated since it was built in 1973. 

Now that it’s a rental, you can deduct mortgage interest, property taxes, insurance, repairs, maintenance, and depreciation to reduce taxable income, but depreciation will be recaptured at up to 25% if you sell.

I've lived here my whole life and it's awesome place for real estate. 

On the roof is there hail damage where it can be insurance claim worthy?