However, would rents (if we want to move) cover our mortgage and expenses?

(In most cases things will be covered by the warranty only for a few years)* **Consider the potential for appreciation.** When you buy new construction, you are buying a home that is likely to appreciate in value over time.

Personal Lines:  A Dwelling Fire policy is the most common way to cover the property. 

This answer relates to Derek's in that different property types require different responses.

At the asking price, I'd just about cover my mortgage.

This is literally day #1 of me even learning about anything related to real estate investing.Thanks :).

We haven't experienced any pet-related damages yet (fingers crossed) but have definitely have received some pretty great reviews as a result.

.🚻 Relationships – your net worth is directly related to your network.

You don't have to go all crazy with the employee / entity.Just create a log of the hours spent managing the properties.The two requirements to claim real estate professional status are1) Spend 750 on real estate related activities2) Spend more time on real estate than a W-2 or a business.There is no requirement about being an employee and compensation.

Still waiting for someone in the 10M bp posts to outline a way someone could be sued on a single family home that isn’t covered by insurance that was not gross negligence.