If you make the person an LLC employee you can get around it, but partner does need to be careful. 

If it did flood though, I personally would steer clear.

Quote from @Matthew Crivelli: Personally, I'm not a fan of Air B & B.

We will shop for used appliances where we can when we need one… or pick up used cabinets if we can, or search eBay for something smaller,  but going to the extreme of personally shipping something big in internationally for one-off renovation needs seems like a stretch of reasonable.Just like you mention, the number of unknowns would not seem to be worth it to me.Just my 2 cents.Randy  

The cost to repair your vehicle, and perhaps the other person's car, will be WAY MORE than the cost of the insurance premiums you saved by not having insurance. 

Personally, my primary residence has appreciated around 6% in market value and I live in Levittown. 

I personally would never invest somewhere that could outlaw rentals.

@Dave Tasset I haven't personally invested with this company but have heard good things about then. 7e Investments, Chris posts frequently on BP.

The challenge was balancing the relationship between landlord/tenant and a personal/friendly relationship.

Yes I have known it to work because the owner is not a push over, enforces policy and can make it run good......however, do you have the right personality to do this, AND if you move out can you continue to have the house run smoothly with no one in charge.