2) How can I insure against a catastrophic loss (e.g., hurricane) that may cause me to lose rent for years? 

I've heard mixed reviews.I spoke with a Florida agent recently who said the governor recently said they are going to require HOAs in the state to meet higher reserve requirements to address things like deferred maintenance as a result of the Miami condo catastrophe.

And they aren't going to call every single loan due, that would be a catastrophe for the bank.3.

Certainly we must be aware that idiots are alive and dreaming up the next catastrophe however of all of the thousands of appointments I've been on to buy houses only once did I question..That deal turned into a great payday.

I would like to be able to make the deal without outside investors, however, non-traditional financing (from what I have found so far) often comes with higher interest rates and terms which, in the event of some catastrophic event, would have the property over leveraged. 

@Steve FitzgeraldTrusts provide anonymity and the LLC a corporate veil that can isolate assets from other assets so one catastrophe can't take down the empire. 

Also just knowing you have exposure out there in the event of a catastrophe . 

Over the last few years we have seen huge increases in property insurance premiums... on top of that there have been a large number of carriers either go insolvent or shut down their operations in the gulf coast areas especially Florida which has suffered catastrophic losses due to hurricanes. 

I also have a $175,000 line of credit at the ready if something catastrophic happened.

I view insurance as being there for truly catastrophic events.