Although Philadelphia is only requiring you to get General Liabilty, I think you have a bigger exposure to Professional Liability (E&O) insurance. 

To me knowing Detroit area like I do these days I would simply pass on any neighborhood that has bars and caged condenser units and this kind of theft I dont think there is much long term upside and just a ton of risk..

It doesn't mention requiring paper receipts at all.

@Chris Johansen I believe the part you're missing is you are not "simply loaning him money" under the new iteration of your partnership arrangement.

@Karl Kauper with a SF you can require the tenant to take care of lawn and snow, but they might not be up to your standards. 

Most investors focus on what can they buy now with their available capital instead of simply what is the best investment for their capital without limitations. 

I am glad because the permits and requirements would have much tougher.

Quote from @JD Martin: Quote from @John Underwood: Quote from @Collin Hays: Quote from @John Underwood: Require travel insurance that you can make a claim on? 

Second, when Boomers lose their jobs, they often simply retire, and they are an enormous generation

Only thing better would be initial deposit and then paid in full upon Certificate of Occupancy and punchlist complete.Of course, standard items should also be checked: licensed, insured, willing and able to pull all required permits, reference checks.I would also commonly avoid the cheapest bid you get.