Study after study have shown that default rates skyrocket when the borrower/guarantor doesn't have adequate skin in the game.

Is this coverage adequate?

Have/build adequate reserves.True example:I had an apartment fire that took out several garages on New Years and additional damage to two adjacent apartments from the Fire Department putting it out.

If your retirement utterly depends on having adequate cash flow from your properties, any downturns will cripple you.

What you need to do to protect yourself is carry adequate insurance and fully disclose to your insurance company everything that you're doing to generate money at the property. 

Find a property, sketch out the finances of the deal to see whether it will provide adequate returns and if not move on to the next deal.We evaluate dozens of properties every year but typically buy only 1 or 2.

It is impossible to do adequate due diligence on private utilities.  

It must be adequately sloped so no water collects. 

They need to have adequate bathrooms for the number of beds, since they are in PHX they have to have a pool, and then she mandates which linens, towels, etc the owners must use in order to create a consistent, positive experience for all guests.  

Well here in the part of Georgia I live in, we have that famous red clay but unlike some clay, it will perk adequately in drain fields.