I know often times people on this forum say they are unnecessary and don't always protect against liability and just get a good umbrella policy.  

And they're doing it for less money...maybe you should be talking to them.Also, for someone doing 30 deals/year, having 3 part-time assistants seems a bit unnecessary... :-)

The HOA will either raise assessments or impose special ones to deal with repairs or necessary improvements.

If your goal is financial independence with $X passive income by a certain date, then being frugal with your money or your personal time isn't "unnecessary", it's a choice.  

Just check the city's ordinances though before you put them out...some cities and municipalities impose fines to those who put out signs without permits.

If a couple weeks pass and the relationship isn't working out, I'm happy to let clients out of it because I try to avoid unnecessary headaches and wasting my time.

We feel that by having an smaller home we will be more connected and will have less unnecessary stuff.

This is such a small property in such a large County that I doubt you would be "drawing any unnecessary attention." unless something was truly off.    

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

Straight am doesn't add that much more for you while IO adds a level of complexity and seller convincing that's unnecessary.