Do you think it's common for a tenant to sue for an amount greater than insurance can cover, then take your property or even your personal assets? 

Almost all mortgage loans these days have Due on Sale clauses, so it comes down to A) whether they find out (usually from changes in the insurance policy), and B) whether they choose to call the loan.

If so, you should also look into the insurance requirements during construction (both builder risk as well as the GC's policy, but particularly the GC policy).

Explore the possibility of doing liability insurance instead, if you don't have much equity it may be your best, and much cheaper option.  

I 100% endorse adding in the escrows for taxes and insurance to set the buyer/borrower up for success. 

Tampa can work, but yes, taxes and insurance are higher and might keep cash flow tight.

However if you had done a warranty deed (or a special warranty deed if you still have a mortgage on it) instead, your LLC has a claim against you for the issue on the title, and you in turn can go back to your initial title insurance to fix it.Some title insurance will allow to transfer the coverage to an LLC that you own 100%, but not all of them do or they may require an additional fee.

(Please don’t tell me you will lend anonymously to those you met here or on the web).Title/Fire/Hazard Insurance Requirements: Not part of this list but what will be your insurance requirements?

Clouded titles are often uninsurable from a title insurance perspective. 

An additional benefit of a detailed engineering-based Cost Segregation Study is that it can increase potential insurance premium savings as well as provide support for the property tax appeals process.