Is there anything specific I need to be on the lookout for or anything I should do to make sure I'm legally covered?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

For example, they won't need to cover your personal belongings (furniture, clothing, etc.) because you won't be living there.A landlord policy should cost about the same as a homeowner's policy; it just changes what is covered.

I just do all my bookings over airbnb, its too risky to go direct as the guests aren't covered by airbnb insurance.

If i buy a property only to cover the mortgage, then come out of pocket for repairs, then it sounds like more of a flip than a rental property.If cashflow doesn't cover all the operting expenses, it doesn't necessarily mean it is a bad investment given appreciation.

@Ko Kashiwagi My understanding is that one can still execute the BRRRR strategy and successfully cash out, but due to high interest rates, the rent may not cover the mortgage.

Neighborhood Scout is not going to cover any shortfall you have if it doesn't materialize.you could try finding a bank or broker that will do 80% out on a refi, although probably not possible to close by the end of this month. 

It's my understanding the Gator Method consists of providing short term loans to cover other investor's earnest money deposits.

-it's not separately metered, all utilities covered by owner-no pool or common areas besides laundry.

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.