My strategy is just"Buy and Hold" aiming cash flow and capital appreciation.  

.#2) For more protection just get an umbrella insurance policy for an additional 2 million.

I fully expect to pay for insurance as I am assuming all operating expenses, but I am curious whose name the policy would be in?

My credit is 800+, would I be able to add my name to my father's policy and take out the home equity?

My advise is to aim a bit higher.

The cost for an insurance policy can fluctuate a lot depending on the location of the property.

simply go to your local title company they will put it together for you.... its what they are there for.. you want title insurance and your lender wants a lenders policy

I read that the Texas Attorney General is suing Austin about its airbnb policy, so we will see. 

As to real estate, immigration crack downs might effect that roofer you have, individual health care policies might drive up the cost of doing business for small contractors if they will still be required to be covered, seems they want to get rid of Obama Care but still want everyone covered.....we will see.

The biggest impact won't be from immigration, but from policy.