Now, with that said, you mentioned that the Tenants were not negligent people, and you found the hose bib on, which was accessible from the outside (so anyone could have turned it on). 

Fraudulent or negligent errors are subject to a penalty and could really complicate you issue.

Many flips don't have a seller's disclosure so there is no remedy other than against the inspector possibly who did the inspection, if they were negligent in missing obvious things.

Gone are the days of the 2 kids home living in a 2/1, as now both parents/partners are likely to work.The cost to have a 3rd bedroom is negligent over 30 years, but can really affect what you can charge.

@Greg Scott Account ClosedInsurance protects against different kinds of risk (e.x. negligence) than an LLC (e.x. breach of contract, fraud, gross negligence, etc.).

Each grosses $700 +/- per month.1 higher priced place for $100K, gross rent for $1200.Your highest gross is at the lower end, but so is your highest "cost" for the factors mentioned.Your lowest gross is at the highest end and the time cost should be negligible.

(The property taxes are practically negligible at such a low evaluation).

You're referencing the fact that an LLC owner can be held liable if they personally commit fraud or act negligently.

It usually has nothing to do with the tenant being dirty or negligent, and more to do with traveling or picking them up in a bag somewhere. 

The only exception would be if you were somehow negligent in maintaining the refrigerator.