I have a note in the lease that they're not supplied or warranted by the landlord and the extent of what I will do (if any exist at all) is haul them away. 

Think beachfront condos that not only cover their costs but actually give you solid cash flow.

Make sure you have adequate reserves to cover unexpected emergencies.3) Time-intensive - If you live on-site you're a live in property manager on call 24/74) Legal issues - know the max occupancy laws for your area.

Our property has cash flow and according to the many bigger pockets podcasts I’ve listened to you shouldn’t just pocket all cash flow but set aside a percentage to cover reserves, CAPEX, vacancies etc.

As an investor, you'll need to wait until this period expires before your offer will be considered.Additionally, Freddie Mac may require proof of funds or a pre-approval letter with your offer, and they often prefer cash offers or conventional financing.

It was slow pre-election but now the bookings have poured in. 

Her retirement income would be used to cover the mortgage.I hope this gives you an idea of my plan.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Does renters insurance cover something like this?  

Not every state or city mandates that any landlord has to accept Section 8, because the landlord has to not only subject their property to Section 8 inspections, rules and regulations, they also often have to separately arrange for the tenant to pay the non-covered part of the rent and can face difficulty evicting just based on that.