A successful rental property should offer positive cash flow, meaning your rental income should exceed your monthly expenses (mortgage, taxes, insurance, maintenance, etc.).To find the right tenants, ensure the property is priced competitively within the local rental market.

Insurance is definitely an issue there, and will continue to be.

Should the Owner require the Manager to make unscheduled visits to the property(insurance proposes) above and beyond the duties outlined in this Agreement, a fee of $75 +GST will be charged per visit.Thoughts??

Rock that for about 12 months and add some equity and then you could refi out to conventional so as you pay it down in the future the mortgage insurance will drop off.

But IRS allows an IRA to be invested in anything except life insurance and collectibles.

Tell the tenant (with a firmly written notice) to fix or vacate.

Get replacement cost hazard insurance along with an umbrella policy of at least $1M, probably double in your area.

Looking my insurance policy it mentions that I can opt for settlement under Actual Cash Value vs Replacement Cost. 

Out of my 32 properties, I’ve seen insurance rates drop by up to 40% on renewals, and property tax increases are finally slowing down compared to the crazy jumps we saw over the last five years.

And don’t forget about short-term rental insurance—it’s a must for direct bookings since you won’t have the platform’s protections.Lastly, make sure your house rules are super clear and easy to find.