I know the DP (dwelling protection) insurance policies are standard landlord insurance but my agent tells me I can also get a Businessowner policy to cover the property (mostly concerned with fire, wind, standard perils). 

Take someone along with you as a witness.If you are concerned and have a carry permit you are fine otherwise find a witness that has a carry permit to go along.

After taxes, mortgages, and expenses, I am clearing about $700/month.I am concerned because at the end of the day, any property can be a cash flowing property if enough money is put down.

If the $ is big enough it might make sense to consult with an attorney to determine if this was handled properly by the seller/condo association as concerns prospective purchasers.

@Ryan Blake I agree with you to some extent however in @Manasa Srinath case I don’t think she should be overly concerned about the apartments. 

Once a year I get a call from a "concerned" neighbor about the "language" used by a tenant or contractor - usually complaining about "the F word" (why does no one call to complain about "the S word"??). 

It also concerns me that the majority of your STR market is golfers, I am looking for something that has the potential for year round rental potential.

I am hoping to get some feedback from BP concerning the housing supply near OU, and in general for Norman.

There were four areas of concern that I noted during the walkthrough:1) A $600 kitchen ceiling fan -- the centerpiece of the kitchen decor -- had been replaced by a cheesy $40 bathroom fixture.

My main concern would be living in such close quarters if the people renting the rooms turned out to be dead beats.