Having no mortgage also exposes you to vultures in the event of an incident.  

Did I expose myself to too much risk while he essentially incurred none?

Cdx will delaminate if exposed to moisture. ( Leak, poor ventilation).

Here is info:VT multi family 4 units all 1 bed/bath2 units with oil include heat in rent at $800 for one and $825 for other2 units with propane tenants pay heat at $650 eachTenants pay electric, cable, garbage etc.Income is $2925Expenses are:Tax - 303Ins - 200Utilities - 427Vac - 234Repair-146CapEx -292PM-292Mort-490Total - $2384Cash Flow- $541541*12=$649220%= 26600Closing = 8100Inspect = 500Total 35,200(6492/35200)*100= 18%Looks awesome!

For me personally, I am already in a field that exposes me to the industry.

Nothing wrong with direct wiring it, though that exposed romex is against code.  

I know that there are all types of things that can be exposed during the inspection and escrow process, but I want to stay objective.

They'd rather be 20% exposed to any one investor's portfolio for say 3 or 4 investors.

I can't see why not unless you have water, sewage and electric hook ups and maybe propane tanks.

Propane is expensive, and you'll have to make sure they don't let it run empty.