New landlord question- if I have an individual who wants to rent my place for their parent - who do I have fill out the application?  

I have home owners insurance should i buy another landlords policy as well?

Here’s why:Affordability: You can find solid properties here well within your $200k–$300k budget.Cash Flow Potential: Indianapolis has a growing population, a diverse economy, and relatively low property taxes compared to some other midwestern markets like Cleveland.Investor-Friendly: Indy is landlord-friendly with strong rental demand, especially in neighborhoods near downtown, universities, and revitalized areas like Fountain Square or Irvington.If you’re open to a strategy involving light renovations, there are plenty of opportunities to add equity and boost rental income here.

Appreciate any advice or insights from experienced landlords or investors!

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and it's super landlord friendly (so you will never have to go through a 12 month eviction or anything close to that!).

Although not a an Airbnb Expert as I once was but from making good money on airbnb in the early years and being a landlord most my life.Keeping it Simple.

Consider getting a statement signed by all parties which states that everyone has agreed to terminate the current lease early on X date and all obligations by all parties have been paid in full and that the deposit will be kept by the landlord and will be applied to the new lease. 

One thing I would add here is to check prior landlord references, not just from their current one.

Do they own appliances in the property, or does the landlord? 

We only manage our own properties, but I've spoken to more than landlord who's hired a PM who complains about the PM.