What protections would I have if the buyer defaulted?

However it does allow the agent and brokerage to be protected incase of commission disputes, it sets apart specific addresses or territories in which this agent is working with you.  

I have a tenant whose condo suffered a major roof leak, which caused internal dry wall and related damage.

The borrower is protected. 

This goes back to what I've been posting for a while and that's the fact most investors cannot articulate the risks they are protecting against or how these elaborate entity structures will actually protect them and there lies the problem. 

This is one of the best ways you can protect yourself against problem guests.

I think what folks are trying to advise here is that you need to make sure you're dealing with an agent who knows policy language, has good experience in the industry, and knows how to help you and protect you at the same time.Hope you find this helpful. 

@Tom Thomson so in some states you must honor the protective order.

The person being taken off the lease is not wanting to live there anymore and by law can terminate early in Indiana due to protective order being filed against roommate/girlfriend.   

The more I am reading and listening, the more concerned I get about liability protections.