This means that if series 1 house is sued, they cannot reach into series 2 assets to cover damages. 

Can you imagine going into a gas station with a sign out front saying gas was $2.59 a gallon, and when you went to pump the gas you first had to pay a $15.00 fee for using their pump, an $8.00 "lot fee" for parking you car in front of their pumps on their property, a $17.00 "roof" fee because there is an awning over the pumps, and a  $14.00 "snack bar" fee to cover the fact that should you feel the need for a cool refreshing beverage, you have the option of walking in and purchasing an Icee for $1.99?

A couple areas have lighter paint from covering chips.

The bigger the discount the bigger the risk but I have performing assets in my portfolio with a unpaid balance of $20,000 and property is worth $60k, even if pricing fell 50% I still have my investment covered if the borrower were to default.

When a tenant vacates or is evicted, does their renters insurance policy cover liability in a lawsuit for damages to the property caused by the tenant?

Inspection concessions cover unexpected or non-disclosed problems.

Maybe I got lucky or maybe I'm recommending my brother-in-law.I'd rather give objective criteria that helps the individual screen whomever they decide to look at.

My agent is really great and covering all of the official details like inspection and I have a lawyer for leases, etc., but I was wondering if anyone has any "gee I wish I had thought of this earlier" tips for someone about to be a newbie landlord.   

In these parts we cannot include a survey exception for lenders coverage even if a survey was not undertaken (and access is a covered risk).

If the property is generating a good amount of cash and you're happy with it I wouldn't make a big deal about the furnace and water heater - especially if the seller is covering the roof.