Some folks do well and others lose their shirt and go bankrupt.It is definitely a risk and you are creating a job for yourself, but judging by your wording, you kinda want a business instead of investing.It is scalable based on your area and how much risk you can tolerate.

If nobody redeems, the judge forecloses the lien, quiets title, and orders the clerk to issue a deed to the investor.Because of a May 2024 statute amendment, anyone who has not received a final order of judicial foreclosure by 10/1/24 will be under the new rules.The new rules are the earliest you can foreclose your liens is 4 years after the first auction.

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.

What makes you judge others, or think you are  better than rockefeller, kiyosaki, or warren buffet or ---- ?.

Guest takes more care of the property, since you,  the host, are the only judge to decide if you retain or not the deposit in case of damage or issues.Another Good: You can write in your contract that non respect of rules may lead to lose some of the deposit: Like noise, or a very unclean check out, etc...

Texas heat in the 100s is no joke and a judge will not be nice about you NOT fixing it.

I would judge the PM differently if you have a clear issue you requested action on and they didn't act. 

The judge did force the termination of the arrangement and my partner agreed to buy me out of the properties after the judge demanded they either buy me out or agree to sell the properties.

So I'll pass on the judging.

I'd avoid buying anything in Lawrence Township because the judge there does not like evicting people for non-payment of rent.