Bad Polybutylene pipe fitting, leaking drain trap under the vanity.I'd be thinking about getting the leaking stopped and worry later about the insurance company.

We are property managers and marketers and have seen by far the best ROI in our portfolio on homes that fit this profile.  

First and foremost you're going to need a great property manager who communicates well, has the same or at least close to the same mind set as you about your property, a management style that fits your needs (Turn key, Value add, HUD and section 8, etc) and who can bring personal references of contractors. electricians, etc. 

That should get you started determining if you think it's a good fit for you or not. 

Does it fit into larger "whys" for you?

Overlay that with what your objectives are and once you find the best fit you are already off to a head start because you have enough capital.

Then make an educated decision on which strategy is the right fit for you.

I won't get into the specific math here cause its nerdy and not necessary, but I spent some time 'fitting a curve' to our data and here is what I came up with: Here's what is going on in this graph: The labels on the X-axis are the median rent for a given city (I am purposely omitting the city names here). 

I'm a local northern Nevada real estate investor looking to build up my network more, let me know preferred investment vehicle and what you can bring to the table (I.e. skill/trade, money, investment, ...) and I'll see if I can find a fit for you.

You can’t begin to determine a prospective tenant’s fitness to rent without asking the right questions.