Later on in your investing journey the safety and low management of expensive, appreciating properties will become appealing.

I'd say everything else is the consequence of the 2 points above - the weather and the state of economic affairs influences everything else, including safety, infrastructure, the condition of housing stock, etc.

It is also possible that either the folks in charge of the station, or the prosecutor have set a policy of not wanting to pursue non violent crimes, or even not paying attention to crimes against folks who are not local residents. 

-Structural (foundation, wall, ceiling and floor)-Roof and Exterior(Roof Condition,Gutters and Downspouts, Siding, Windows and Doors)-Plumbing (Water Pressure,Leaks, Drainage, Pipes)-Electrical (Wiring,Outlets and Switches,Breaker Panel, Lighting Fixtures)-HVAC(Air Ducts, heating and cooling)-Water and Moisture Issues(Attic, Mold and Mildew)-Kitchen and Appliances-Bathrooms-Pest and Insect Problems-Safety Features

We have not disabled ours or converted to gas, but Tenant must sign a Fireplace Addendum stating if they use it, we require a higher renter's liability policy with us as additional insured, rules on wood, storage, use, safety, they pay for yearly professional cleaning each year they are there, etc.  

I use strict / flexible cancellation policy.

Instant equity creates a margin of safety.

How would an umbrella policy protect against a security deposit related claim?

Your primary strategy should be to have the Contractor and all Subcontractors add you to their insurance policy as Additional Insured. 

What kinds of policies do you think might help ensure ongoing affordability as Texas continues to grow?