It might be worth a follow-up closer to the move-out date to confirm their plans, but avoid excessive contact to prevent escalation.

We have an insurance policy on the rental house (through State Farm), that includes a personal liability section, which is essentially equal to our current net worth.Given that a tenant could sue for more than this if an accident occurred, we are thinking about adding either LLC or an umbrella policy (or both) as extra protection.Any advice on which way to go, and if LLC, any recommendations for a law firm or company the Indianapolis area?

We put a sign on every property to: attract tenants, create brand awareness, and to help prevent scammers from using our properties as bait. 

They like extra room to avoid accidents, etc....Just my $0.02....

Communicating timelines and expectations upfront can help prevent losing good prospects to other properties.I'd say it's a potential red flag if they want to sign the lease without viewing it.

This may be to deliberately prevent discovery of other electrical issues or prevent fire/injury.You will need some form of hard money or construction financing to purchase the property as is, and you will need to get the property occupant-ready to pass an appraisal before permanent financing is on the table.

Also prevented us from making wrong statements on our part which would have reduced the claim.3.  

Unfortunately due to the business you choose to operate incidents like the one you experienced are more likely to occur compared to a property that's continually occupied by a tenant where the water would more likely be run at a higher frequency which would prevent the pipes from freezing.  

That means weekly on going preventative maintenance fixing small problems before they become big problems. 

I don't expect to know everything by then, but I hope to develop a basic strategy that prevents me from making the most common and costly mistakes that a newbie can make.