COVID showed that every admin job in the world can be done remotely.Then you just need trusted boots on the ground for local stuff.

Personal Lines:  A Dwelling Fire policy is the most common way to cover the property. 

Typically, it's applicable to certain types of property, and the rules can change.Regarding short-term rentals and bonus depreciation, the Tax Cuts and Jobs Act (TCJA) introduced favorable changes for businesses, including bonus depreciation for certain qualified property, but the specifics can depend on your situation.Using your property for short-term rentals may affect your ability to qualify for certain tax benefits, and the classification of your property (personal residence, rental property, business property, etc.) can impact the tax treatment.The IRS has guidelines regarding the depreciation of rental property, and bonus depreciation may not always be applicable to residential rental property.Additionally, if you decide to switch the use of your property (from short-term rental to long-term or mid-term rental), there could be implications for tax treatment.Given the complexity of tax laws and the potential impact on your specific situation, it is strongly recommended that you seek advice from a qualified tax professional.

I'm in the Reno / Tahoe market and there are STR and MTRs that can still cash flow but the appreciation in the area is going to be strong based on the limited supply of buildable area and the tech jobs moving to the area. 

The market in this area is pretty strong with quite a bit of population and job growth, near good schools, etc but in a relatively older part of town.

Not many folks first job is RE agent/broker etc.. like mine was..

Not sure if its common in the use you have on the land, but is there a play to ground lease in some way with the spare land?

This is a very common issue for newbie investors.

For me, I have a regular full time job. 

I like commonly missed deductions!!!