Hard to beat what @Brian Burke said above, that's a comprehensive list! 

Insurance coverage is one thing, but HH income seems very disconnected to Medicare revenue per person.

They can shop around for you and know the coverages available with different companies. 

The leases should be specific and comprehensive enough that if you ever have a question on what you can and cannot do, you just read the lease and it will tell you.

If it's non owner occupied, then just get a dscr loan (no income verification and the debt service coverage ratio is one of the few things taken into consideration) and call it a day.Stephanie 

This will protect materials and also offer liability coverage while this property is a work zone.

The amount of rent and damage coverage is equal to the requested deposit.

Here are what I got so far:1) Insurance is too high in FL because insurances including hurricane coverage,  pretty much like my  own home which is located in Houston's  hurricane zone.  

A $1M umbrella insurance coverage would suffice.

@Gabe Cinquepalmi an Umbrella policy does not provide any more, or any less coverage than the General Liability policy.