Would this person need to be insured by himself or will my liability insurance cover any damage or injuries?

We each put up an equal amount of our money to cover the down payment plus rehab costs ($50,000 each, for argument's sake), and I get a mortgage for $250,000 (my name only on the mortgage, not both of us).  

If interest rates rise, landlords may not be able to cover their mortgage payments with rent increases.

My reading of the rules and regulations led me to believe that the government is trying to force ground rents out of the picture. 

My goal is to invest a property that can cover all my mortgage payment and hopefully some extra income.

Just as a highlight, the property has fire damage, was there insurance in favor of the lender which covers such damage and will that claim transfer to you or should some of those proceeds be used to demolish and clear site or clean up site; will you be indemnified for any future liability if not, etc - point is, I would worry more about your not so common deal rather than trying to find sample contracts of more common deals.  

In the pictures you can tell its in great shape, the kitchen looks recently upgraded and it appears there is probably about $20k in rehab needed minimum however ill wait for a contractor to assure that.

Just a little background on my current situation, I am 24, currently renting, and have 2 boarders whom cover 90% of rent at present, I know they will not be around forever, however I have been debating whether or not to start looking into purchasing my own home first.

Take pictures and or videos of the place. 

I just want to cover myself and make sure that these are reputable companies.