I don't think there is a set number.  5X sounds reasonable but its market based, you have to see what other people are charging and converting at.

With one rental it is a bit easier on that end but the repair side becomes an issue as many vendors focus more on serving the high volume clients and put you further down the list so get a good network now! 

BTW, the rental property mentioned is a standard one year lease type apartment just like mine which has been sitting for 6 months and, although I have had crazy number of submitted applications, they have all been way too high risk. 

(I am part of a group that advocates for landlord frindly laws - so, guilty as charged).

I did nothing but lose a bunch of time and money on the land investing and have done far better with rentals. :-)

Quote from @Ryan Moyer: Quote from @Chris Seveney: We are taking over a property in Reunion resort (6br) and are looking for turnkey short term rental manager for the property.

There are supposedly only two insurance carriers who are willing to insure these buildings, and they are charging me 4,000 per year per building.

Needless to say, when they put the notice in the envelope they had printed out, they knew full well it was going to Pennsylvania, where it didn’t arrive until the 5th.The notice includes that if the lot has not been cleaned up by the deadline, the city will take care of it and charge the delinquent owner at least $110 an hour for the work.I called my contact, Brooks, who went out to the lot yesterday.

Currently I have not used it myself but it seems like an interesting and creative way to increase cash flow vs the traditional rental. 

This county is stating that the starting auction amount can only include the principal amount of the certificates which we have paid over the last 4 years, but cannot include the accrued interest or the auction fee the County charges investors to start the process (which total ~$4,000 in this case).