If Landlord grants permission, Tenant agrees to take precautions to prevent injury and also to maintain adequate insurance coverage.Note: By at least addressing this scenario in our property rules in this way, the tenant will be more likely to ask for permission before just going ahead and doing what they will.

Is this still a issue or do HUD properties need a little extra precaution when being done? 

I have noticed much of the listings (Public listings only: Redfin, Reator.com, Zillow etc.) are for older properties - any precautions or words of advise on this?

I admit I am probably being too paranoid and will take the obvious precautions with valuables.

The total operating cost for this building is $29500 however I'm budgeting for $40k as a precaution until we have a full year of actual numbers to go on. 

But by taking the right precautions and getting professional help, sellers can reduce the inherent risks.The Mechanics of Seller FinancingIn seller financing, the seller takes on the role of the lender.

Some HML’s take investor money and must show that they are taking all precautions with these funds.

We are having the toilet flappers changed as a precaution as that is one thing that could cause intermittent usage but not the $11,000 level you are experiencing.You can go to clevelandwater.com and create an account. 

I am taking alot of precautions so that i dont screw up and i do agree with you and that is what i am looking for currently so it doesnt be a nightmare.

It can be done but there are precautions to be made.