New homeowners often need ample reserves for repairs, improvements, furniture, appliances, window coverings, and many other unexpected expenses.For example, I still remember the angst of some first-time homebuyers who bought a very cute 80-year-old bungalow, and who also had to scrape up $4,000 for some urgent plumbing repairs that surfaced soon after they moved in.3.

- My Allstate landlord policy covers STRs too, but that doesn't include things like furniture and appliances- We use a company called Safely for some of our high-end properties.

The third component is micro managing your manager and/or trying to be too involved in the initial setup unless you are super super good at it. if your manager says we need to replace furniture, repaint the walls, add artwork, retake professional pictures, do something else, let them do it. if you don't trust them to do what they do best don't hire them, otherwise let them do it. the return on investment follows. the reviews will accumulate and will help. the superhost status will help. whatever else your professional manager does will help.I've been managing commercial and residential for 20+ years.

Now the owner owes this tenant moving expenses, lawyer fees, all new furniture(negotiated during settlement), medical bills, dry cleaning and washing of all clothes, sanitizing of all her personal effect, and refund of every cent paid.

Let me clarify a bit- I'm looking for a cash flow market that we'd also want to live in (or just outside of) as a family with young children.

Your decor and furniture package make all the difference as well since there's so many 3BR units.

We do not have children, and will not be leaving an inheritance.  

It's a good children's story but doesn't match reality because it only presents two possible options: a tortoise that is slow and steady, or a rabbit with speed but no endurance.

You also have to take into account that you are providing all utilities and furniture.

We added plumbing, appliances, landscaping, and furniture Lessons learned?