There are also times where a hard money lender may not lend to an inexperienced borrower and outright deny them for their inexperience. 

Having language in your lease which requires the tenant to do physical work on common areas can infer a type of employment status in the eyes of the insurance company and they could deny your claim if something happened depending upon the language of your insurance policy.In conclusion: If it's a single family home that you are renting out, I have seen many landlords in Rochester, NY require the tenant to take care of lawn maintenance and snow removal. 

Yes, some bad things that will absolutely happen in life (lose a job, get sick, toilet gets clogged up at 2am, tenant can't pay rent, you get run over by a bus, etc.) but you deal with them as they pop up.

@Eddie T.Late to the post but was denied from santander bank.

They will deny a loan (some of my knowledge is out of date so keep that in mind) because there is peeling paint, there are tiles on the roof that need replaced, the sidewalk is heaved beyond a certain point, windows are not in good shape, etc. 

In case of any incident related to roof or something, can insurance company deny the claim stating the age stated was not correct or something?

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I've seen instances where landlords just don't care about abusing tenants.  

My file just came back from underwriting as denied due to the fact that I have 7 properties financed.

In the end though, being denied was for the best: not only because "Mother knows best" :) but also because it taught us to really project HOA fees and assessments in depth and calculate how being under an HOA can dramatically cut into profits over the long-term span of ownership, but particularly if you have a mortgage loan and margins are already medium to low.