According to CNBC as of 8/24/17, 78% of Americans live paycheck to paycheck, meaning most Americans can't afford their car payments, student loans, credit cards, or house mortgages if they would lose their job or have any meaningful increase in inflation of non-fixed rate items to include ARMs, credit cards, and regular items you buy from retail stores.

I also have a regular meeting with my CPA to see if I am on the right path.

Most tenants just want a regular, clean, safe, quiet place at a fair price. 

and to understand how they fit together in your toolbox, as none will give you everything (e.g, insurance is required and it will cover you for many situations, but not always; asset protection (LLC) is litigation insurance and complements regular insurance, by minimizing the target and making it unappealing).If you are a new investor, probably you will not have a lot of assets and/or equity to worry about (but even that is relative and subjective to each person tolerance to risk) so I would not worry about that till you pass that risk threshold (in my opinion 100K+ in equity, maybe 50K if you are really risk adverse).

There more fun than a regular residential lending bank guarantee. 

They either qualify or not; just like everyone else-it would be extremely rare that a sec 8 tenant would meet the same requirements as our regular tenants.

After I found my CPA, I use him regularly, when I have a question, call up and ask.

A co-signer is on the lease which means if there is a default you will need to go through the regular landlord tenant route to collect back rent and damages.

.§ 1-8 The Property Manager shall disclose all details on the availability of rental properties to prospective parties on a regular and timely basis.§ 1-9 The Property Manager shall not exaggerate, misrepresent, misinform, or conceal pertinent facts in the advertising, leasing, and management of property.§ 1-10 The Property Manager shall make reasonable attempts to remove from the Internet listings for rentals that are no longer available.Article 2: DISCRIMINATIONThe Property Manager shall not discriminate in the management, rental, lease, or negotiation for real property, shall operate consistent with fair housing laws and regulations and shall comply with all federal, state, and local laws concerning discrimination.STANDARDS OF PROFESSIONALISM§2-1 It is the duty of the Property Manager to educate those with whom the Property Manager is affiliated to comply with all fair housing laws and laws regarding discrimination.§2-2 The Property Manager shall not deny service to any person due to race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity.Article 3: RESPONSIBILITY TO CLIENTWhen working in a disclosed relationship with a client, the Property Manager shall protect the client’s best interest at all times.STANDARDS OF PROFESSIONALISM§3-1 The Property Manager shall use written agreements, and written extensions, if required, outlining all responsibilities and fees, if any.

I really don't see the difficulty in learning your market and keeping a regular eye on it to see where it is.