He recently suffered a career ending injury after having the most successful start to a jockeys career.

Again, stay away from this company like the black plague...you will suffer greatly if you get caught in Alex's web of lies, empty promises and deceit. 

After meeting a few of the tenants, it became quite evident that this place was an enormous help to these people suffering from a horrific addiction.  

The fixed rate I have now let's me tell my tenants that they will not have to suffer much rental increases.

That insurance company may well have then surrogated the claim to Allstate, but you would have been out of the loop for any claims about your tenant's belongings.Seems like the damages you did suffer (carpet) should have been covered by Allstate, and that would be independent of the tenants belongings. 

That said...if the big one comes...we will all suffer since the entire market will take a big beating.  

But to be fair to all of the Investing schemes they all suffered in the melt down.. what was a 65% LTV become under water when the asset dropped by 50% or better.What was a great apartment deal with 80% leverage become underwater with 35% vacancy or more ( think Vegas PhX ) and those who owned those lost them to the banks.AS @Don Konipol states its all coming up roses right now...

I have a friend that absolutely loved the place she was renting but moved as soon as the lease was up because the cost of heating in the winter and suffering through the heat in the summer was too much.

My company recently acquired a property that suffered fire damage.  

Make sure you are comfortable with coming face to face with some interesting things, and that you don't suffer from claustrophobia!