I will second to say this is common practice.The intent of this part of the contract is for your Liability insurance to respond any slip and fall claim on your property, not the PM's Liability insurance. 

No, you're still underwater and drowning if your intention was to have an asset that performs for you and pays for itself so you can have income forever from it later.

We bought this small single family home to live in for a year with the intent on renting it in a year.  

I would let them know of my intentions, "hey, I'm test marketing this concept, I just wanna get it right..."

@Syed Lateef Are you moving ahead with STR in Miami and is that your intent in Dallas and Austin?

Another thing i'll say is that this approach really only applies to land that is already zoned for the use that you intend to use it for. it's a whole different game if you are buying tracts of land with the intent to rezone and create more density or different uses.

Do letters of intent from an investor really do anything to negate not having those requirements? 

I illustrate my intention(by the way,i am getting all these information from my courses so i have no pretention to reinvent the wheel.

The non-tenant wanted to sue me, for what I don't know lol I had no intentions to sue anyone, the point was to have the unit vacated.

That was the intent of my original question.