Congratulations @Megha Agarwal we have 2 STR’s in Lake Harmony as well and live about 2hr’s away.  

(In addition to seeing a trend of not writing new policy for California in general due to risks)https://www.sfchronicle.com/california/article/major-home-in...I will have some carpet in stairs and bedroom because the house already came with new carpet in stairs and bedrooms, the rest have water proof laminate , LVP would be my first choice.I would want to screen and interview the owner and the pet(s). 

I have owned a house since 2017 that my father lived in until he passed 2-1/2 years ago. 

I understand that I should have a separate bank account from my personal checking/savings, but based on my research, this first deal won't necessarily provide cashflow with me living in one of the units (it will when I move out).

Finding someone that is trustworthy that will do all of that while you are living out of area, and providing money and the lot has value.

if you have a long-term tenant, the first question is, how long have they lived in the unit?

My goal would be to live in the condo or coop for a year or two and then rent it out!

They have a whole department that investigated "occupancy fraud", which is a felony.The rules state that you must live there for at least 1 year.  

They live on the first floor of a small ten-unit building. 

Colorado Springs continues to get overflow from the much pricier Denver to the north, and it keeps showing up near the top of lists of best places to live, which is driving more people to move here.