How much coverage are you getting?

Force a renters insurance policy on the tenant with coverage for pets. 

Ken,Without knowing the limits, coverage (Replacment vs ACV, Special form vs Named perils),construction (Frame, masonry, ...), Deductible, etc. its hard to say how that premium compares. 

I took the risk with an unlicensed uninsured handyman referred by another successful investor and had him sign a Certificate of Non-Coverage combined with adequate home insurance and it worked!

I took the risk with an unlicensed uninsured handyman and had him sign a Certificate of Non-Coverage combined with adequate home insurance and it worked!

Property must cash flow with DSCR (debt service coverage ratio) of 1.25 or better.  

Being based overseas, I would like for the property(ies) to be ran by a comprehensive and trusted management team (from manager to legal etc) I would prefer for the the property to already have tenants and a good history (financials must be available upon request for due diligence etc) to hit the ground running. 

@Fred Foster You need to tell your insurance company that you're renting out the property so that they can convert the coverage form correctly. 

The cash flow and debt service coverage was great.How did you find this deal and how did you negotiate it?

@Arn Cenedella appreciate the comprehensive response.