I'm not an insurance expert or a lawyer, but I would imagine the homeowner insurance policies of the current owners would cover a tree falling. 

No evictions, has a bank account with 3x rent today (this one requrement will save you tons of heart ache and problems), good references from current AND more importantly their prior landlords. 

"subject to and resell it to him in a year", would be exactly a Quite Claim to the investor and the prior owner signing a lease. 

And on these grey questions of “are your rentals a business”, prior rulings favor the landlord.

It's possible to buy a short sale with a 1031.A problem that you may run into is if the bank dosen't approve the sale prior to your 180 days being up, you won't be able to close and the 1031 will fall through.Therefore, you should have a backup plan in case the short sale doesn't get approved fast enough.

In the commercial mortgage space we have found that NPN investments can be divided between(1) purchasing NPNs in which we’ve had no or minimal contact with the borrower, and(2) purchasing NPNs in which we’ve worked out details of a restructuring with the borrower prior to purchasing the noteAlthough the following is in no way a scientific, statistically verifiable conclusion, here is what we’ve concluded through empirical evidence1 - purchase discounts from UPB do not differ either way2 - having borrower agreement before note purchase results in much greater chance of creating a reperforming note3 - having borrower agreement before note purchase results in much less chance of having to foreclose4 - having borrower agreement before note purchase results in borrower seeing us as an ally not as an enemyAside from 1 above, the results are exactly what you’d expect.

I purchased a home last year and the insurance company (Allstate) contacted me a few months after closing stating they did a random drive by and my roof didn't meet their standards and I'd be dropped from the policy if a few minor issues weren't corrected. 

No more verbal verifications, no more lies. f they have a prior eviction(s), or their income is too low to support pay the rent, then sorry, their application will be declined.

I haven't done this yet because I'm not sure if I can get an umbrella policy to cover all my assets especially if I have some in a trust and some in LLC, or if I should just put them all in the trust.

I want to be respectful of everyones time on here and need to do my homework prior to firing off a ton of questions that can easily be answered by me educating myself.