This is my first experience -- either they are professional deal killers in general, or I ended up dealing with 3 in a row who happened to be deal killers. 

Typically, you can purchase an umbrella policy for as little as $300-600 annually that offers a million dollars of liability coverage.

No experience here.

Her book is based on her actual experience with her STR properties. 

Now that you are behind the bank has to put this as a liability on their books and have $400k cash set asideBanks only require 10% reserves typically so that $400k is stopping them from lending approx 3.6M in loans 3.6M at 7% is a big number and will lose a lot more from this than $10-$20k on your loan.

He has 40 years experience with hundreds of these or 1000s over 40 years.

If anyone on here has some experience or a good reason to stray away please reach out.

Yes, there is a plethora of leases floating around the internet, but if you want to manage your property properly, it requires a lease agreement that fits the way you want to do business and helps you to cover costs, avoid liabilities, and increase revenue. 

I'm so thrilled to meet others with some experience in this space.

I'd talk with your CPA about your tax liability first.