(Trying to skimp on coverage by not telling them you're Airbnb-ing the place will defeat the purpose of insurance if they deny a claim because you weren't truthful.)There are specific STR insurance carriers like Proper Insurance, but most major carriers offer a rider for vacation rental or short-term rental insurance as well. 

How can I structure the contract or investor payout terms to ensure they feel secure and confident in receiving a solid ROI?

The term “rental income” doesn’t necessarily mean you go off the total amount of rent payments coming in.

Is the year long lease void completely or is it only void for the time the water is out? 

My name is Jonah,  I'm a long time fan and listener of the BP Podcast and decided to finally jump in the forum! 

Additionally, it took me far too long to learn better.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

Long-term this will likely raise insurance rates for all owners, compounding on top of sky-high current insurance rates.

Real estate investors should look for off-market properties for a few reasons:Off-market prices can be negotiated better due to less competition.Lower competition, in general, equals a better chance of your offer winning.You can negotiate other, more favorable terms that aren’t always available on-market.Why Do Sellers Go Off-Market?

As long as you market it as a single lease, you will be fine.