Have your notified your insurance agent/company that you are no longer living in the property and that it's under renovation?

A bit, but with all of the chip factories, companies, and new developments coming to town I don't see it softening for long.

I am under contract for a property out in Columbus and they are one of the few property management companies I am considering going with! 

Your first step is to contact a savvy CPA.You, as a Member of an LLC, by virtue of the LLC records provisions in the LLC law, have as much disclosure access, and more, than a shareholder of a public company.  

Usually when I close on a house, the insurance company sends out somebody to do a visual inspection.

Hi @Chantelle Lewis - We run a boutique STR/MTR Management company here in LA.

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

I'm going to ask my insurance company.

Large syndication company, higher fees than most other syndicators.

Total waste of time company.