It's such a small expense, it would be negligent not to buy and install them in my opinion for the safety of yourself and tenants regardless of whether or not it's required by law.

I went to Court and collected any of the rents that were in Escrow after.The 747 Plane Example is not fair.In fact, as long as I don't commingle personal funds with the Brokerage Funds, have O&E and General Liability, and as long as I am not GROSSLY negligent, any law suit should be defendable.

After the work is factored and your resale closing costs down the line when you sell the amount of built up equity is likely negligible over time.I would see this more of a place to live then an investment. 

Also be careful you don't get sued for negligence and accidents for uninsured people. 

Unfortunately if it goes to court, the judge will almost always rule in favor of the HOA (at least in NY) unless you can prove gross negligence by the HOA.

Spread that out over 17 years (thats what state, county, governor and legislature are planning on) and at best you are talking about a negligible impact.

As a rule of thumb, the absentee and negligent owners leave a lot of money on the table. 

Beyond that most policies provide some level of liability coverage if a tenant's guest or anyone else is injured due to the tenant's negligence and some may even provide coverage if the tenant damages your property.Regardless, I mandate in my leases that tenants carry renters insurance not only for their protection but for MINE.

This is gross negligence.

The incompetence/negligence of POL on this and other projects that I am stuck in borders on criminal.