Many people will have different reasons for buying or Not buying a condo as an investment property, my reason is I have a day job that I won't be leaving so this allows me to invest in RE without having to deal with the complexities of Single family properties, the HOA takes care of all the exterior issues, I cover the interior issues. 

Also pre screen the potential tenant that the original tenant found to make sure that he or she meets your rental criteria.

If you do accept the applicant, I would certainly charge pet rent as well as a pet deposit that will hopefully cover the damage.

Broken hand rails, missing plate covers.

Bought a single screen theater in a small town and flipped it a year later for 50x.

Does anyone know of some insurance companies where a tenant can cover their dog?

Covers furnace / boiler, ac, water heater, washer & drier and may be something else. $20 or $25 per door per month.

However they do not cover nearly enough things.

I wish I had purchased the hard cover version though, I need to take notes. 

You take a risk which could result in cancellation of your title insurance and complete loss of your real property without compensation in the event that a title issue regarding your real property arises.Contact your title insurance company to determine coverage and if your policy does cover transfers , and when or how.2.