I have learned that I should change my insurance to a landlord policy for protection, but I'm worried that will send a flag to my lender and open a whole can of worms.

If you are new to RE and planning on renting any property in the City of Portland, I'd also recommend spending a considerable amount of time learning the city specific renter protections, and landlord tenant law more generally.

I honestly want to protect all the hard work my husband and I have put in to these businesses, but I don’t want to be dishonest.

My question is about how to protect your personal finances from tenants in the event that something happens while they are renting from you.

As far as active surveillance like through a live feed from multiple cameras, some people are just really paranoid and I think in most cases like that, as Bill said most people are just trying to protect their property.

I have a ton of drive and passion for RE but not a lot of experience or guidance so I am looking to learn about contracts to protect myself from being burned again.

We have asked for this to be updated to protect us.When we put the offer in we asked (outside the offer) to provide a years worth of financials as well as fixing the disclosure sheet.

I do realize that a LLC inherently protects myself personally but am I opening myself up to this property by having it in my name?

For reference my residential lease is 7 pages, and has always protected me. 

That's how you get protected.