Most would be better off with just a regular landlord insurance policy and an umbrella policy.

Short term, assuming the real estate lobby doesn't sue this to keep delaying/appealing, once it goes into effect there will be no more broker fees paid by tenant *unless they hire the broker*Some long term effects I can predict already: - Landlords now having to absorb broker fees will bake this into the rent (e.g. how "no fee" units typically are priced a little higher than other units) - Real estate board will require another document (or checkbox) for tenants to sign stating that they're hiring the listing broker and responsible for compensating them for their fee *if* they apply and are approved- Regular New Yorkers will have an even harder time to find an apartment because you cannot legislate/regulate away a housing crises... 

Furnished Finder means you will need to have more interaction points to process them and collect payment--- does not mean it's a bad option, but there is less automation involved.

Quote from @Max Smetiouk: Hello Ryan,I am looking to acquire property and debating between regular LT rental and STR rental.

Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

I've seen insurance premiums for flood go up to 5-6k on a regular single family home depending on the area. 

Quote from @Marc Shin: For my STR, should I be using waterproof LVP or regular tiles for the bathroom floors?   

I love meeting new people and making connections, and look forward to chatting and with interacting with you all!

Sometimes large employers will rent furnished apartments for their employees coming to town on a regular basis.Also, if you believe strongly in the appreciation of the house, how bad would the negative cash flow be if you did long term rental? 

I'm out on site regularly for that project for my W2 job, there are rumors of it growing in scope too.