I agree it very important to reasonably evaluate the likelihood of the event vs the cost to set up protection against it.

What ways can I prepare myself for these type of events. 

That’s a good point I will look under events and see if I can find any REI groups I’m sure there has to be at least one?

Can your combined income support two mortgage payments in the event you don't get a renter quickly? 

I was just at a capital raising event in New York City pitching miami and columbus. by far there is more interest in miami for development, land entitlement, etc. you also aren't local so I'd discount what you say by like 80%. even if you are looking at "condo" investments, that's about the poorest way to invest in real estate so I'd say just you looking at that says something about your experience level. 

Connect with real estate agents and attend events for sharing and mentoring opportunities.

If it's not driving for dollars then going to networking events and selling what you bring to a deal. 

You can network on here BP, local chamber of commerce, builder associations, join local meetup events to find like minded individuals to help find that partner. 

If it is a one off event I personally wouldn't do anything.

In such an event, the tenants will be responsible for paying a lease termination fee equal to 3 months’ rent ($7800), as liquidated damages for the Landlord's inconvenience and costs associated with finding a replacement tenant.