They then would have tried to subrogate the master insurance policy to pay for damages, or the board could have intervened and paid for the bills out of pocket.

However, many landlord insurance policies have deductibles up to $1000 or more, so even if insurance covered it, much of the bill would still be unpaid.  

We've started to take a more professional approach, recently automating rent collection, getting an umbrella insurance policy etc.

Speaking of which, if you don't use income minimums, immediately institute 3X or 4X income requirements.Having the income requirement coupled with the no co-signers policy should eliminate most students from qualifying for your rental. 

I have zero experience in wholesaling and not many contacts for cash buyers if any that i can count on. 

I was not forced to change the insurance policy on my home.

Some homes are really worth less than zero.

The thing is, I have zero experience with marketing-style writing.

A few years down the line, I may be able to pick up additional investment properties with some cash saved up, right now, I'm looking at primary residence mortgage with zero money down. 

I'm not sure why it's something you'd never consider, because the two flippers I partner with (one in FL, the other in IN) are more than happy with 2 points origination, and 12% APR (with monthly interest-only payments) or 14% APR (with zero payments until balloon).Alone, the could not afford to carry inventory... to do more than one or two flips at a time.