Not sure I would invest in places without such protections as I see this on BP in a lot of places (i.e.

Handle this promptly to protect the owner’s interests.

Good tenants help you protect your investment.

This gives much better diversification protection across geographies, asset types, strategies, investment subclasses etc. versus putting all the eggs into one basket.The downside is that it's not for everyone, and a person has to be comfortable with turning over control to someone else.

To invest out of state successfully, focus on building a strong local team (agent, PM, contractors), automating deal analysis, and using contingencies to protect yourself.

They will be more focused on finding a buyer for a deal vs what date the DD ends and EMD is owed to the seller and most likely not be cancelling the contract or extending the DD to protect the lenders EMD funds. 

How would an umbrella policy protect against a security deposit related claim?

On the other hand, pros include increased cash flow, engineer-based data for the clients CPA, audit protection (with the right firm) and the ability to deflect that recapture fee with a 1031 transaction.

Anything I need to be aware of or make sure they do for my protection?

Quote from @Michael Rodriguez: Howdy fellow Memphis investors,Any ideas for protecting thieves from pulling out the HVAC copper pipe?