Leverage technology early and put everything in the cloud, so you can access info wherever you are.Make sure to get properly licensed and obtain E&O Insurance.

I am a fairly new homeowner (less than 2 years) and haven't began my investment property journey yet. 

Insurance for what?

I think it will also depends on state laws and a lot of information not present but the HOA rules and insurances are two different things.

I guess a flat seasonal fee like any insurance policy, sometimes you win, sometimes you lose.

More insurance will cancel short term rentals.

Insurance- need a broker.PM- farm out or you better be good at process management. 

Here's a breakdown:Conservative: 8-10% after covering all expenses (mortgage, taxes, insurance, property management).

Also, this would only remove the mortgage debt itself from your DTI if it was to work; you would still be hit with a liability for the annual taxes, insurance, and HOA fees (but also receive the benefit of the rental income).

Be sure you consult your agreements with them as well to determine if there is some other action you are responsible for.You may also want to contact your insurance to find out if and when they may step in and do something.