This is better than relying on insurance because it protects your personal assets from liability.

More specifically, how many years of tax returns is needed to be shown to qualify for a cash-put refinance?

@Dominick Tonnarini, The only issue with your plan is that you will have to pay a sizable tax on the sale of that property when you do sell. 

If renters have to bring their own stuff, they're less likely to bounce because they'd have to move all their own stuff.)Month-to-month-- Principal, interest, taxes and insurance (PITI). -- You'll keep back maybe 5% of all rents for routine maintenance and another 5% for capX (big expenses like roof or furnace replacement).  

Can my sister and I donate land my deceased parents received deeds through in tax sales? 

You don’t necessarily need to be local but there are also misconceptions and rules to follow:https://www.biggerpockets.com/forums/530/topics/1056436-clearing-up-confusion-on-tax-treatment-of-short-term-rentals

I have to move, I lose job, he dies, etc.Who pays taxes and insurance?

I have done things with attorneys, CPAs, stock brokers, insurance brokers and others successful in business.General business knowledge, understanding of financing requirements, knowing property valuations, maturity in personal financial matters to give general advice, understanding of the foreclosure process, legal aspects as to liability in leading someone into financial matters, fully understanding fraud issues and the differences in a general matter where fraud might be applied as generally thought of and what may constitute bank fraud causing or even attempting to cause a loss to an insured bank having different standards.

I'm glad to hear you've had success, though I think tax liens and tax deeds are different animals.

My hesitation in keeping it is the huge property tax I pay every year about $18k.