Quote from @Burke Atkerson: With over a decade of real estate investing experience and over 100 flips, I now provide private money & hard money loans.

There's so much growth potential in Columbus Ohio and the best way I can characterize this market is it provides good positive cash flow but amazing appreciation potential.

Processes have been set up to provide a degree of protection to parties  involved in subject to transactions.  

I'm trying my best to prevent mold growth, so I asked tenants for their renters insurance, to which he said, "our renters was with geico and we just switched insurance providers this month and have not got a policy active yet." 

You have provided a variety of situations where doing a cost segregation study would be useful.  

Note I have no affiliation with them except I use them and they have provided me a great VA.

This owner found a free lease template online that provided very little landlord protections. 

As per their terms of use, "The Site is provided solely for your personal noncommercial use."

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

Similarly to what Mark Cruse stated above, provide dignified housing, respect your tenants, and either have a good PM or make sure you are updated on the regulations and best practices for placing tenants.