Regarding what coverage you may want to have:1. maximize the Liability coverage (most carriers will do $500,000 limit and some will do $1mm)2. consider an Umbrella policy for addtional Liability coverage3.

It seems like an extra level of flexibility, and a unique way of customizing you living situation, while still maximizing the benefits of the house hack.   

Cooler spots like Flagstaff are a two-hour ride from Metro Phoenix, for example.)While low season is never going to bring the revenue you generate in other months, adding a mid-term rental strategy can maximize low season earning potential, save you time and money and gain you very valuable peace of mind.

I use 30 year loans to minimize my payments as much as possible and maximize my cash flow.

After speaking to CPAs who are very knowledgeable in real estate investment, only answer I now have is to maximize my 401K.

For example, if your focus is to maximize cash-flow then a market like Indianapolis would be on your list.

This is not just about maximizing ROI but also peace of mind.

As a buy and hold investor, if I can get more than this return, where should I invest/what is the best strategy in order to maximize cash flow? 

But, for an investor who doesn't need the cash flow, has plenty of reserves, isn't risk averse and believes he can maximize IRR by using large amounts of leverage, cash flow may be meaningless and that formula may not allow him to reach his goals.Some people will tell you, "Never invest for cash flow."  

For investment instruments, the goal is not to maximize return, but to maximize your risk / return ratio.