I suggest keep looking for the next deal.You need to have a solid margin for any unexpected outflow.

It all depends on several variables, sometimes unexpected. 

Credit Life, Accident/Health/Involuntary Unemployment "coverage" only either pays off the loan (credit life) or makes loan payments (A&H and IUI).

Consider whether you have the expertise or willingness to manage contractors, navigate construction challenges, and handle any unexpected issues that may arise.Risk Tolerance: Assess your risk tolerance as a first-time investor.

The original owner passed away unexpectedly ~1 year ago and their children inherited the property.

I’ve bought a couple sight unseen and have always had unexpected repair expenses pop up.

So even if you pick a state with stronger protections like WY or NV, the cause of action arose in the state where the tenant fell, so likely that the court where the accident happened would have jurisdiction.

Basically, you should NEVER be surprised to receive an unexpected bill above $XYZ, which you did NOT explicitly approve.

Don't stretch yourself to the limit, have reserves, plan for unexpected expenses, and rent reductions. 

It certainly didn't all happen by accident.