I also know great people for home insurance policies, a great loan officer etc.  

Currently renting out the old primary residence at $1800/month with a cashflow (after mortgage, insurance, taxes, vacancy, maintenance, cap ex, etc.) of over $500/month; with the other two investments each pulling in between $250-350 a month.I also decided to make tennis my "full-time" job and pursue real estate more heavily as my career.

Expenses: holding costs such as utilities, taxes, insurance, lawn, snowCity fees - permits, potential fines and assessmentsLending fees if anyI would get an attorney involved and write up a partnership agreement that you're both ok with.

This was really the worst possible sort of storm as far as insured losses.  

For example, the W-2 income makes life easy when applying for new loans and implementing the BRRRR strategy.

This rent covered all expenses on the 15 year mortgage, insurance, and HOA fees with small profit that got eaten up on paper by LLC expenses, depreciation, PM and accounting fees, etc.  

Sometimes life delivers a crazy hand that we are dealt.

I have sold insurance to many of Federico clients and he always seams to find them great deals.

My question is do I need a more extensive of insurance policy with people staying on our property.  

Rarely does a tenant have FLOOD renter's insurance.