I would advise to get an equity partner and get the loan that will cover all needs. 

., explain that bad things happen primarily by getting bad tenants as a result of poor screening .

Then the lender has to make sure you have enough income to cover the debt, which is the issue you’ll come into since it’s inconsistent 

You can either enforce your lease or let the tenant know that you wont enforce your rules and hope for the best when they break other provisions in the lease....your choice.The middle ground is to let the tenant know that she is in violation of the lease and this is grounds for eviction if the issue is not corrected..... you will not enforce that provision if he goes through the standard tenant screen and is placed on the lease.These are small issues and not worth making a huge issue out of, BUT they set the precedent on how tough you run your properties....are you a pushover or are you someone to not try and take advantage of..... how you approach this situation may have future impact on other things that come up.If this is a good tenant, in a nice property and there aren't any issues, I wouldn't make a big deal out of it, but I would not just ignore the fact that she is breaking a provision in the lease...that gives them the impression that they can do whatever they want

That is why we suggest people to  make sure you manage them cash flow to cover taxes on your current year sale.

Allowing pets will put you ahead of other rentals and yes, you can charge more per month and have a pet deposit which should cover any expenses occurred by the tenant. 

Im confused about what it is that the insurance will cover.

You will have negative cash flow and will be out of pocket every month to cover expences on th eproperty.....money pit.

I have purchased and sold 100s and 100s  of properties in the 50k range . 2, 3 4 , years ago I was providing nice homes in ok areas for 30k, now the same props are about 60k - 70k,,,,,  Tenants, its all about screening.

This doesn't mean I wont fix the A/C if it goes out, but it does mean they are not allowed to complain that there is not a garbage disposal or screen door.4.