Both isolated incidents but her successful airbnb is now a memory.

A post incident pet Addendum with this information for both parties to sign and agree to ...or if not agreed to the final alternative being breach of Lease and ability to give notice if it's really that worrisome to the Landlord? 

. - at a minimum, most underwriters will require a 4-point inspection (plumbing, electrical, roof, & HVAC) before issuing an insurance policy.In some cases, you may be able to get a "liability only" policy that would provide some protection and a duty to defend in the event of an injury or other incident on the property, but you run the risk of an award exceeding your insurance limits and dipping into (or at least tying up) your personal assets, making the LLC or other legal entity even more critical.In my opinion, if you are serious about moving forward as a rehabber or landlord, the expense to form an LLC or corporation is minimal and should be one of your first moves.Previously posted elsewhere:"An LLC is more for asset protection than tax advantages (though it may provide some tax benefits if you opt to tax it as a corporation...talk to your accountant).Example: Contractor falls off the roof and breaks his leg at your property.

However, reports from Rentfaxpro and City-Data show the crime rate in the area to be very high (disproportionately so, when compared to the actual incidents I've seen reported).  

There are other landlords in our areas who have a different perception of what constitutes accommodations fit for students and they have a much higher incident (damage, eviction, etc) rate than we do.

A regular homeowner's policy or tenant policy won't cover any claim if the carrier finds out that the incident occurred during a short-term stay. 

Make sure you document everything well - particularly complaints from other people, get a copy of the police report on the gas incident, make a formal record of his behavior and try to get it on film.  

My favorite incident was the agent who came to the HUD house that a former patient of mine owned (I was an EMT for nearly eight years).

OTOH, if you have some major incident, your actuals for a property could be well over 100%.A big chunk of the 50% is property management.  

That is a violation of Dodd-Frank laws with a manditory $10,000. fine and 1 year prison time per incident.