Just wondering if anyone has done this and what safeguards (contract, insurance additional coverage etc), if any, they felt were necessary, and if they've had any unexpected issues.  

Once the money is back in my account I'll send the rent money'-'My car ---- the bed and needs fixed'-'The storage facility I have some stuff in charged my credit card 10X what they should have'-We had an unexpected bill'-'My credit card/debit card/bank account got hacked' (this one has happened multiple times to different tenants)-'I got another job that pays better'

This insurance shields tenants' stuff from problems like fire, theft, or damage, and it covers accidents too.

Some of the things that have happened during the last 7 years of running STRS, loose deck boards, rotten outdoor steps, broken interior hand rail mounts, loose electrical outlet...Any of those could cause a major accident so they were repaired asap.

But I’ve only had a handful of profitable months, most of the time I’ve been paying either the mortgage myself or unexpected cleaning & maintenance bills, and my savings has run to zero, so it’s a big loss so far.

This has resulted in an unexpected financial burden of $7500.In light of these circumstances, I am seeking advice from you all on the legal options available to me.

Highball all your numbers and leave room for error and unexpected expenses.

I think the lesson here is to interview potential agents about how they handle difficult communication, unexpected findings on inspection reports, etc.

Here's some background that might be helpful: My mom died last year unexpectedly.

If you buy right and learn to run your numbers correctly you’ll always have enough money to cover your bills barring an unexpected loss.