But in the case of having it fully managed by others, with a STR policy that requires $1M liability anyway, plus the management company's insurance, wouldn't most liability fall to them first as they're contracted to keep the property in suitable condition, then I'd still have pretty hefty coverage if something went beyond that?  

The house is in pretty good condition, though it's built 1950's, it's had lots of updates. 

I have had a local appraiser tell me he runs into this occasionally - when he does, he says he 'has to' appraise the home as a conventional home (probably discounted some for condition unless extensively remodeled).  

Have you checked the condition? 

The second unit we replaced the kitchen, one bath was previously remodeled and the other remains in upgraded condition.

In general I would say that if you are comfortable with bookkeeping, do a good job screening, you have a property in good condition, and you take the time to properly educate your tenant on communication and maintenance procedures, expectations of both parties, and responsibilities, you'll have no problem self managing 1 duplex on your own with very little time dedication.Typically you will probably spend 15-20 min a month on bookkeeping and entering transactions, and that is about it.

If it's the latter, in the mid 90's there were a gazillion homes that used wood product siding that was problematic to the point that there were class action lawsuits concerning it and many homes were resided under conditions of the settlement.

Overall the house is in good condition just looking for opinions as a new landlord , thanks in advanced .

Most deals will not be found on a home in move in condition.

Over the the episodes from the past two weeks, David from the BiggerPockets podcast has brought up that real estate will be harder and harder to from the "small guy" to get into each year due to factors like: inflation, hedge funds being hyperactive in the market, the lack of supply and high demand causing an increasingly competitive market, real estate being a more attractive investment for our current economic condition, etc...