First American would not insure for 5 years..but this is where relationships come in.. we were number one client at fidelity and they would insure us right away.. within days of the TAx collector deed being recorded  usually 2 to 3 weeks post sale. if you walk in off the street and are a one off client..

I recently applied for a business license on a new rental and found that there were a few violations posted for work completed without permits: construction/demo, electric and plumbing.

Also, I imagine insurance might come into play as well.  

They need to be licensed and insured.

Also planned on managing it myself for a little while and putting it up on AirBnB for $165 a night. 19 days a month and I would break even (adding in insurance and everything else).

Additionally, good brokers can help set you up with some of the key partnerships you will need (mortgage broker, property management, insurance, etc.). 

I was in new construction (Plumbing) for over 30 years and just decided I had to make a change.

@Kevin Tuttle OK but the multiple properties that I own are free and clear when a tenant leaves I have no fear I have no mortgage to pay I do my minor repairs find another tenant And go back to making the same return Copy paste repeat buy a new property free and clear find Tennant when they leave no worries I owe nothing other than taxes and insurance at the start of the year

Hi Everyone,Insurance has been a frustration for me as I'm constantly adding property to my portfolio and always need to go through my agent (often with a couple reminder emails).  

Many insurance companies will no longer insure a property using oil due to the risk of a leak.