The second option carries risk because they may end up paying for more than a month of vacancy if I have a hard time finding a new tenant.It is worth spending some time to research what other property managers in your market are doing and then develop a written policy.

There are landlord policies and please make sure that you have at least $500K in liability coverage. 

When the tenant gives notice, give them a simple one-page form that explains the deposit refund policy.

I have suggested in the past that a good lawyer will be able to pierce just about any corporate veil and a good umbrella liability policy may be a great alternative. 

However, maybe an umbrella policy would be a good idea?

Be a good landlord and fix anything health and safety-related ASAP2.

Hello all,I'm looking for advice on which insurance policies I need for my flips and which policies should fall onto my general contractor.

How they choose to use the income verification in qualifying will vary from lender to lender depending on their company's policies. 

@Marisa AlvarezTell your tenants to reinstall the smoke detectors as they are a life safety requirement.  

This is my "treat yourself" upgrade and the safety of my family factored more into that decision than before.But my previous 2 vehicles (all I've owned since getting my DL) were only worth about 2-3k.