Compare the rental revenue to the costs associated with the property, such as taxes, upkeep, and administration.

Property taxes were going up way faster than inflation and people's salaries. 

Is there any type of expense associated with that, i.e. does the landlord require the space renter carry a certain type of insurance, are they responsible for anny HOA/maintenance fees, taxes?

.• Use Redfin’s property value estimator to determine the value of these properties, and calculate the ROI of these properties (hypothetically, assuming the house was paid cash) only including home value and rental price they are listed for (not taxes and insurance) to determine general ROI of properties in the area.• Select the properties most similar to mine, and use the minimum rent of these as my minimum expected rent potential.

Each strategy has its own set of benefits and drawbacks, as well as potential returns and risks.Buying to Flip for Quick ProfitBenefits:Quick Returns: Flipping properties can potentially yield quick profits, especially in a hot real estate market.Minimal Holding Costs: Since the goal is to sell the property quickly, holding costs such as property taxes and maintenance expenses are minimized.Creative Freedom: Flippers have the freedom to renovate and design the property to maximize its resale value.Drawbacks:Market Volatility: Flipping is highly dependent on market conditions, and a downturn in the market can lead to reduced profits or even losses.Capital Intensive: Flipping often requires significant upfront capital for purchasing, renovating, and holding the property until it sells.Income Tax Implications: Profits from flipping are typically taxed as short-term capital gains, which may result in higher tax liabilities.Buying for Rental Income and Long-Term InvestmentAdvantages:Steady Cash Flow: Rental properties can provide a consistent stream of income through monthly rent payments.Appreciation Potential: Over time, rental properties have the potential to appreciate in value, providing long-term wealth accumulation.Tax Benefits: Rental property owners may benefit from tax deductions on mortgage interest, property taxes, and depreciation.Challenges:Tenant Management: Dealing with tenants, maintenance, and property management can be time-consuming and requires effective management skills.Market Risks: Rental income may be affected by market fluctuations and changes in rental demand.Liquidity: Unlike flipping, rental properties may not offer immediate liquidity, as selling a property can take time and incur transaction costs.Comparing Potential Returns and RisksBoth strategies offer the potential for attractive returns, but they come with different levels of risk.

We decided we'd like to transfer ownership to our children so we can help them avoid the new Proposition 19 law that requires property tax reassessment upon inheritance.

Quotas, bans outrageous taxes.  

Yes, Insurance is a tax write-off for a rental property.It is also true, that if expenses are higher than your income(not including depreciation) that it may lower your DTI Ratio.

It seems to me like the push to quadruple Colorado STR property taxes is softening quite a bit. 

I’ve been trying to find more info on if I would qualify for the parent-child tax exclusion through Prop 19.