Check with your CPA, the people setting up your LLC and/or your QI. 

agreed. what I see is a major issue with used homes is plumbing and people NOT doing sewer scopes on their home inspections.. 

I stopped reading after your tenants letting people who are not on the lease live there.

I’m not in Tyler, but I know how important it is to find like-minded people when starting out.

So don't be confined to just areas/markets that you know people in!

Meaning how to attract the type of people you want to your STR listings and how the heck you are supposed to know if there is a market for your type of "customer" in the area you are investing.

The challenge with unsafe areas is (1) potentially higher cost of maintenance such as broken windows, etc. and (2) this is by no means meant to be discriminatory but anecdotally from people I've spoken to the challenging tenants tend to be at the lower price points.

I’m here to learn as much as I can from this community, connect with like-minded people, and gain insights into smart investing strategies.Looking forward to networking and soaking up knowledge from all of you.

Typically people only get insurance on things that they own, or liability insurance for their own protection. 

Go to local meetups, search these forums for people that have mentioned that they do private lending and attend other RE events.