If you are looking to do it passively, as a long term strategy, or to supplement your income, then you should plan on and factor in a PM.

Hi, Everyone.Stumbled across this while looking for new ways to supplement & eventually replace my income.

I specialize in Professional Liability, Workers Comp & Vacant Property Coverage(s).

There are no annual dues, any assessments (occasionally, for road repairs) are by special ballot only.Past research has suggested that anything that could possibly happen on the roads would already be covered by our individual auto and/or home owner's policies, and since we don't have any "common areas", general liability HOA coverage isn't necessary.

on large Multifamily dead insurers will offer loss of income coverage. 

I have been a follower of the fourms for months, and finally found a topic that seems to not have any coverage.  

Contractor is a good link for this.Assuming you are using actual subcontractors your general liability coverage should provide all the coverage you need.

Before I go down that path, wanted to get a feel for what other investors have on their coverage. 

I know real estate will help me supplement retirement income and current cash flow needs.

If not, skip it.A lender will typically require a debt service coverage ratio of 120%+ (meaning, your NOI has to be at least 120% of your annual debt service).