Quote from @Jim Stanley: You should reserve insurance for large claims.Contact the city and report the issue to them.

Is there any state statute dealing with this issue?

Fear the issues of tenant nightmares, fantastic because you won't have that with STR. 

I've run into some issues where clients get a little anxious over a valuation that came in low or a condition comes up that is fairly minor. 

There are definitely advantages to the liability issue when using an LLC, but there are some disadvantages as well. 

Our primary issue on both previous CPAs was lack of engagement/enthusiasm in their work.  

If the house doesn't pass the occupancy inspection before closing, the municipality can usually issue a temporary occupancy permit.

A lot of the top places have seasonality issues so don't let it scare you.

However, there is no way to do so without risk.The Internal Revenue Services issues three (3) Private Letter Rulings (PLRs) that allowed the taxpayers to do just this.

But I knew and had worked with a couple of hard money lenders often enough as well to know that they’d fund any purchase in the range I was looking to buy in without issue if my private lenders didn’t have the capital or weren’t interested.So to answer your question I already had several lenders in place that I had worked with previously.