Yes, you need rental insurance and you need to register with the State and the county that the rental is in....and pay them sale's tax for any rentals that are less than 6 months. Long term rental over six months do not pay sale's tax. If the rental is in Lake County, the total sale's tax is 11% - 7% to the State and 4% to Lake County. Failure to do so, will invite a big fine, plus back taxes.
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