When finding the "right" location for long-term rentals, are there any neighborhoods or areas in Waco that you've found particularly ideal for maximizing rent and safety?

So you get extra exposure to your site, and you get to set all your own policies.

You just get good insurance and possibly and umbrella policy for added liability coverage.

Remind downstairs folks of the noise policy.

She's willing to pay the rent for the next two months to be a PITA, that is her choice.Inform her in writing the need to keep the AC set to a minimum level to protect the health and safety of the property even if she is not living there.

I have been able to find companies that will cover real estate portfolios on one policy in other markets but no luck in the Florida market.

I agree with Don that acquiring an interest in property without a title policy is short sighted. 

There is an alcoholic exclusion in most, if not all STR insurance policies, so no I would not recommend it.

Flood insurance: I’m all for being conservative on insurance policies.

An inland marine insurance policy for the equipment .