Since I do target the 15-20 year old homes, they normally have the original roof, AC, plumbing etc. so I pay attention to that and set aside cap-ex funds accordingly. 

I personally go with very short term financing but the majority of my properties are paid off so in the event of vacancies, I don't necessarily have a mortgage to cover.

That covers all trades such as HVAC, Handyman etc but I've added an accountant to my list.  

To cover them on dangers & also tenants complaints if there is a leak, etc.

See: 1031 boot  Now, I've taken a real estate accounting course in the past which covered this, but it was over 20 years ago.

Then I either get better than average rents or I'll sell it.First I repair/replace things, if needed, that cause more damage (to property or life) if they fail, roof, water heater, plumbing & electrical... anything health and safety related. 

I've been reading about landlord insurance to cover liabilities and damages.

So we are actually in need of 2 leases, i want one for the SFR that covers specific items like the tenants responsibility to maintain the landscaping, and one for the Townhome that covers things like "abide by the HOA rules or you are violating the lease". these are relatively minor differences but very important. so my question is........should i look to buy the package from BP and go to a lawyer to tweak that lease?

You got it pretty much covered

I have made many changes to the exterior (new roof, paint and landscape).