I would make it unpleasant for someone that overstayed their welcome.I have been doing this for about 10 years and have never had any cause for concern about someone not leaving when they were supposed to.I have a fishing team staying at the house that are in a tournament.

I would do nothing beforehand except obvious safety concerns-broken windows and loose or missing rails.

Most of us have cash reserves, retirement accounts, brokerage accounts, lines of credit, steady work history, or some combination of these items, and have properties with low risk of extended vacancies; so, there are zero concerns with leverage.

@Emily Jordan - Sounds like you have a great realtor that was able to get you a cash flowing asset in both the LTR and STR worlds ;) Scams are always a concern in the rental world. 

The price range this house falls in will cashflow pretty well, so my main concern is getting things right from the start.Legally I've read I need to change my home insurance, any other issues I should look into?

I have a Network Security background, so I understand the security concern, but are AirBNB folks really renting and want to mess with your wifi?  

If you’re concerned about not being close to the property to manage it yourself, don’t worry- there are plenty of services, tech solutions, and management companies to help you with the problem of distance.

Again, this is only a possibility if you meet certain criteria concerning the pandemic. 

@Aaron Macken This was my concern with cold reaching out to property managers for this information.

Become familiar with the terminology, buyer-seller, SFR multi-family residential, commercial RE, assignment contracts, lease option, escrow, laws, and by-laws of your state-specifically and then the general laws concerning real estate transactions.