Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

I feel sorry for the people losing everything in the fires , insurance will go up .But I wish I was the guy  driving this bulldozer ;t=162s

You will be obligated to modify your home insurance once you leave, regardless of whether you self-manage or not and this would apply to Scenario 2 as well - for any property you don't occupy yourself.3. 

Most Florida markets will share some dynamics though like taxes and insurance. 

That Movie was dead accurate how that industry worked in those days..

I reduced my responsibility to only taxes/insurance while the tenant buyer does the maintenance, pays utilities and makes monthly payments to me. 

On top of that, depending on the severity of the structural issues, you will also likely run into problems getting insurance on the property or wind up needing to purchase very expensive insurance. 

Thanks in advanceDown payment: ~90k (25% downpayment)Rent per month: 2300 (5Bed, 4 Bath) with 2100sqftProperty management: ~150 (monthly)Outstanding loan around : ~268k (7.675% APR) 30years fixedLandlord Insurance: 1500$ (per year)HOA: 1600$ (per year)Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead.

And , since I had been working in an industry I really wasn’t passionate about, this was my chance to try an industry that I have had a passion for for the last 12 years or so.

@Chungying ChuIf you want more liability coverage, ask your insurance company if you can increase it.