If the insured driver was sued for more than their car insurance covered, the accident must have involved negligence.

Many carriers won't take new business on a risk that has a water claim within 2-3 years.

If you go this route, make sure there is a very very very wide spread because it's so high risk and easy to lose.

One of the biggest challenges for everyone involved is being on the same page about the actual time required for maintenance.DIY landlords rarely properly track their time when it comes to property management in general - tracking their true time invested in maintenance is where they perform the worst.Investors that hire PMCs are rarely any better at understanding the true amount of time maintenance takes.

Too much risk?

I personally wouldnt - I am sure you could use the equity to get more than $600/month in cash flow however that would possibly require some work and risk on yalls end.

It  depends on your risk tolerance and what other assets you’d like to protect.

We act as GC on our efforts but we have gotten tired of the effort involved.  

It’s a balancing act of controlling costs while also controlling risk of personal injury to your tenants and property visitors as well as maintaining goodwill with all involved at the properties. 

Turnkey properties offer immediate rental income with less hands-on involvement, while properties in need of rehabilitation can potentially appreciate in value.