What are effective ways to word, non-hypothetical policies to ensure the safety of your residents and property?

I am not familiar with the other company you mentioned, but if their business model is similar I would avoid it. 

@Willie WebbI think the answer now lies with what your business model is. 

Get some knee pads and safety goggles, of course, to protect against the infrequent errant piece of tile flying up.  

We are not interested in sloppy repairs that last just long enough to off load the home so it becomes someone else's problem - that's just not in our business model. I

I only needed the 203K monies to cover required "health & safety" issues.

In monitor mode for now. 

Umbrella Insurance is cheap compared to a series LLC, for the most safety have both.Plano/Allen/Frisco probably do not have too many of the 100 to 200K properties that make great returns as rentals.  

Currently in learning mode.

If it's true I can cash flow there WITH a property manager in place, and it's at least a B neighborhood in terms of safety and tenant quality, then I will run, not walk, to invest there (I won't live there most likely).