$ 1,842   Rental Income $ 1,200   Rent Equivalent $ 642  month Out of Pocket $ 1,543.70  month

The buyer should record a memorandum of land contract (or the equivalent in Cal.). 

. :) difficult to break into even on the "lower" end of the spectrum, which is equivalent to mansions and multiplexes almost everywhere else in the US.

It wasn't for fire records, and I'm not a lawyer and this is not legal advice, but one gal I met told me that she basically used this form (your state's equivalent will  be different), left out the "not being sought for commercial purposes" clause, the lack of which apparently went unnoticed, and they gave her the info she was after in a week.

NOI can be thought of as a "cash equivalent" investment... say like buying stocks, bonds or an annuity. let's say a property costs 100K and throws 10K/yr in cash... that is a 10% return.

This is equivalent to computing the "cap rate", which also ignores financing.

A very wise man recently told me two things that are relevent here.If you negotiate with yourself you will lose every time.AndAs an investor, if you are find yourself with multiple essentially equivalent investment possibilities, it should not matter to you which one you buy.

The question is – is there a type of insurance that covers/mitigates this in an equivalent way as an LLC does?

In Quebec, I always do a background check at the Régie du Logement's website, but I haven't found the equivalent in Ontario. 

The acknowledgment must include the following language or its equivalent: “Signing this acknowledgment indicates that you have had the opportunity to review the landlord’s tenant selection criteria.