In my opinion, the L/O in this case, does not give you enough protection based on the significant Option consideration you are paying.

I would use the flat covering, but have the side by the house raised an inch or so for proper water flow. 

Appreciate it Bruce, I'm mostly interested in cash flow and appreciation, buy n hold for now.

Here are some considerations and normal practices to ponder: Employee Structure, Contractual Agreements, Insurance Coverage Benefits, and HR MattersLegal and Tax ImplicationsCommunication  and Collaboration.

What are the considerations I should be aware of in purchasing a property with existing fire damage?

Again, consulting with a tax professional can help you navigate these rules and optimize your tax strategy.Ultimately, the decision to sell your rental property should consider various factors beyond just tax implications, such as your long-term financial goals, cash flow needs, and overall investment strategy.

I'm not a cash-flow-or-bust guy or anything -- appreciation is the biggest wealth-building tool in real-estate -- but if you're buying an STR in the middle of any Colorado ski town, you're losing so much money per month. 1.

It cash flows about $1000 and has a balance of around 210,000 on it. 

Because the cash flow isn't that great due to HOA, I am hoping to find a PM who is competitively priced with their fees without sacrificing quality.

The cash flow is solely to cover operating expenses and repairs.