I guess my other understanding is that I have to provide it is water proof and it is correctly zone for fire.

They almost flooded the entire ceiling the first day because they couldn't even figure out how to turn the water all the way off.I am looking for an answer on how I can deal with this.

Currently trying to close up a deal in Spring Texas but it is a hard time finding cash buyers.

Hot Springs, ArkansasHonorable MentionLake Waco, TexasLake Tawakoni, TexasSavannah, Georgia 

One of the tenants hung a picture on a wall, puncturing a water pipe.

You mentioned the roof and AC being new and i'm assuming they're in good condition.10% should be enough to cover the random water heater that goes or any other lesser headache. 

Lack of water?   

I recall when I first dipped my toes into out-of-state properties; it felt like navigating uncharted waters, but it opened up some incredible opportunities.Between BRRRR and turnkey, it really boils down to how hands-on you want to be.

However, upon finally gaining access to the home it appeared that the water was running from every faucet in the house.

The biggest danger is a leaking tank that causes water damage, but it hasn't happened to me yet.