If the home owner's name does not match the policy holder's name, the insurance company will not pay out should the unforeseen occur.No, you can't buy insurance in your name because you are currently not living there, unless you plan on lying to the insurance company.

Do you have patience while a fix and flip enters weeks 5-6 due to unforeseen expenses, and waiting 1-2-3 months until it sells - or do you prefer faster moving transactions- like fixing up a rental and marketing and dealing with tenants, or wholesale flips with paydays 1-2-3 weeks away?

What would happen if you lost your job or encountered a major unforeseen expense? 

The cons, typically you will pay both sides of closing costs, you are buying the property as-is so you have no recourse should you later discover unforeseen issues, wholesalers can mislead you with false information, a bad wholesaler will probably conduct a messy and confusing closing transaction and the wholesaler may have mismanaged the sellers expectations in which the blame or frustration could be aimed in your direction since you are the end buyer.Again it all goes back to the wholesaler and how they have managed the process from start to finish. 

I assume she agreed to the lease in a sound mental state and did not request a rent waiver clause for unforeseen medical problems?

Over the leaseback period, while the property might appear well-maintained on the surface, underlying issues might manifest later, resulting in potentially unforeseen expenses.

The fact that you ran down there in the middle of the night will hopefully show your tenant it was an unforeseen accident and you're doing everything you can to fix the problem.I would absolutely chase down whoever is responsible for the faulty cap to pay for the damages and the labor to get it fixed.

Anytime something looks like it was not part of the original structure, I will add a significant amount of money in case of permit issues, or unforeseen poor construction.

You would pay interest on construction loan as you draw.You can look for a partner who can pay for the interest and other unforeseen expense.

Dealing with sellers that are money hungry and not willing to work with you on unforeseen issues is a red flag.