I suppose the things you mention could happen, but many of the 'things you put in the contract' are put there because one bad thing happened a couple years back and the attorney recommends it to prevent that bad thing from losing you money.

So I strongly recommend that your rental have its own bank account.As for worries about the mortgage bouncing - the only way to prevent that is to fund the rental property's account up-front with some reserve capital.

You can make minor adjustments based on the type of appliances (dishwasher, clothes washer and dryer, air conditioning, etc.) and the size of the rental.

Surely a card system would prevent drilling the locks and stealing the coins?

Both Air Cover & VRBO provide medical liability up to $1M (and we are currently only listed with those two with no plans yet to host directly).

It will save you a lot of stress/prevent issues from spiraling. 

However, the parents and/or Realtor should be close enough to prevent things from getting out of hand. 

Dear [Tenant's Name],RE: External Window Air Conditioning Installation and Removal GuidelinesAs we approach the warmer months, we understand the need for comfort within your living space.

It's very expensive, has horrible traffic on restrictive roads due to the geography, but is very beautiful, not much snow, milder temperature swings, great hiking and outdoor activities such as 4x4 or hot air balloon tours - very touristy.  

I'm now working on my second "dive into full-time REI" hahaThe first time I thought that I would be able to generate cashflow out of thin air and that I could half-*** my side gig of being an RE agent for investors.