If you're insuring a home to replacement cost, insurance companies don't care about appraisals or what the home is worth.  

That pragmatism will help you mitigate risks as you understand the different components of managing rentals   

i wish i had better news for you but it's probably not feasible in the short term to replace your W2 income with rental income. 

There will be a huge gap between coverages and replacement costs. - Renters are majority uninsured. - In September 2024 the FAIR Plan had $6B in exposure to the Palisades alone.

The management company replaced some of them, however there are still several other fees related to the theft that we are trying to get reimbursed for (they told us we would not be charged, they charged us anyways).

Sewer line backup, ordinance & law, and replacement cost coverage are coverages I include. 

I recently had to replace my HVAC system because it was red-tagged.

Hi Marc - Aircover offers some protection for damages caused by guests, but it’s limited and doesn’t replace having dedicated STR insurance.

I did have to replace a dishwasher early on and the stove but since then, zero appliance failures.

Here are some of its vitals:- Zestimate: $345K (I know this is typically 10% or so high)- Last Sold: 8/2021 for $281K- Roughly 1400 sqft- Some cosmetic work needed- $25K left on solar loan- The home was build in 2004 and it looks like it has the original AC unit, so I am assuming that needs to be replaced too. - 2 story house with very small rooms and and 2 steps down, imminently as you enter the front door.- Gated community and in a reasonable HOA. - The home is 2 payments behind and already got a letter from the lender about future foreclose.