You will also learn from others which operators they like or don't like, which asset classes are going well, diversification strategies, standard terms and more - and most of all you will have other like minded individuals to consult with who are on a similar journey.  

It has a standard 1600 SF 3/2 LTR but it has a 600 SF ADU 1/1 studio that I want to use as an STR.Looking for advice since this will be my first STR. 1. 

That's a standard cookie cutter deal that I have gotten 90% financing on for 1st timers.You have to get in a market where 50k let's you play. 

If it is attached to the privately owned property it could be covered very easily and in some cases the coverage would be included in a standard homeowners policy.  

His book “Invest in Debt” written over 45 years ago is the standard for understanding real estate note investing. 

What we need though is a standardized way to measure the metrics.

Try to get a feel for the stability of the tenant's current situation and recent past.You will probably find a lower standard of care than you might apply to the property.  

After all, most lenders just use the standard Fannie Mae template...

That's standard with any management company.

Account Closed stated, Wisconsin Legal Blank has been tested in court and many local landlords find this to be the gold standard.