My concern here is that depending on where your property is located, that might not be the market standard in that neighborhood.

Here's a very simple break down that you can do more research on if you choose....Short-term rental insurance...This coverage is "STR homeowners" policy that would cover any damage to the property from a storm, fire, guest, and even liability if a guest gets hurt.

Not sure how many here will be affected by this but it adds to the tougher landscape for STRs in the mountains.

Hey Abdur, Have you thought about investing here in Columbus, Ohio?

@Ariel Gonzalez, I will also note that while there is a lot of very sound advice being presented here, including my own comments, none of this is actually measurable.  

Hi BP Community,First time posting on Bigger Pockets here.

Tenant has caused physical damage to the property (the interior is overall trashed, the latest damage is to the exterior siding around the main entrance as if from someone wanted to break in)Thank you everyone in advance for your input on this.QUESTIONS:1) Notice to Quit - The new lease signed with our tenant included the following clause: "If tenant breaches this lease for any reason, tenant understands and agrees that tenant has waived or given up tenant's right to a notice to move out unless a different period for providing notice is required by local ordinance or is stated here:..."

I found an amazing real estate agent/Mentor here in BiggerPockets.

There is a great group of members on here to connect with.

Here's some advice to consider for each of your options:Purchasing a single family/duplex and renting it out: This option allows you to continue building equity in your current home while also diversifying your real estate portfolio.