Also in case of fire or flood, I know a regular homeowner's insurance will have no problem covering it.I have been wondering, if the local regulation doesn't require it, why do we need pay thousands of extra for STRs? 

We are evaluating this to reduce our HOA insurance requirements under NRS, and shift the unit insurance onus to the owners.

However, we're aware that success in real estate requires knowledge, strategy, and experience.We're reaching out to seasoned investors who have navigated these waters and come out successful.

Hi guys, I’ve bought my first STR home, and in 2 weeks got it furnished, met neighbors, found someone to “emergency manage’ and clean as I’ll be long distance, now all that’s left is my city- required safety inspection and a few more organizational things.

Your tenant base for an MTR that requires a minimum 6 month stay is small.

If I had to guess it might require revision and re-file of prior year returns. 

A LOT of Cities require it and have minimum specs for the windows.

Anyways in Dec or Jan , bathroom pipe burst because they never switched on the heating or power, or shut down water - during the coldest winter Seattle has ever seen.

Mostly they are vacant lots improved only with power, water and sewer -which are rentable for several hundred/mo. 

We would have watered anyway so zero extra cost and with Tenants eating Avocados and citrus little goes to waste.