I was lucky to not have to deal with that outcome.All I can say is take a few deep breaths...... life will go on....you will be ok.... don't panic too much until you know the damage.

Life changes sometimes happen and that's when you've got to change into damage-control mode and leave the emotions behind with the sole goal of getting them out asap.

I was wondering how this would all work out there are going to be people out of work for extended amount of time and as we know most renters miss one week of work and they are broke.My other big thing I am wondering @Greg H. is how the lenders are going to handle the owners who get wiped out have no insurance and walk away from the property.. knowing how aggressive Texas lenders can be with deficiency judgments on mortgage defaults..

Also make sure you are crystal clear on what your mortgage, taxes, and insurance are and do not buy yourself negative cash-flow.

Gone are the days when you'll have an insurance Broker that holds and value your accountsattentively.I have to remind my agent that my insurance is due if I miss that letter from the insurer then boom itis canceled. 

Here lately with Hurricane Harvey I found out how important it is to have a good insurance agent.

Cheers to a life long of real estate investing!

An umbrella insurance should do when you are getting started.

(Market Value 265k)10% down + closing costs (32k)Monthly P&I + insurance/property tax etc.1400/monthCurrent tenant will stay on after purchase.1315/month rent. 

Unless you have loan officers do an exhaustive analysis of the persons life, you're stuck with the stupid but simpler rules.Talking about stupid rules.