Their risk is mitigated as they will be the lien holders of the property.  

When you start talking talking about laddering and stepping to mitigate risk, I get lost a little......

Just to mitigate future pains.

With that being said, there are many mitigating factors that are involved with owning/ protecting a home or investment property here.

How about talking to those people and see what they have done to mitigate the noise.  

I have a similar issue with one of my properties on the East side; it has two issues: 1) It's near a road crossing so the train has to blow the horn, 2) it's near a crew station, which means the trains idle there randomly while waiting for a new crew or to go into the yard.I attempt to mitigate this by calling it out in the listing and then again when I talk to the guest. 

From a tax perspective it does not really matter with a good CPA and from a liability standpoint is negligible and mitigated with proper care and insurance.4.

There are risks in every property of every size, and you can only effectively invest if you understand those risks and how you are going to mitigate them.

Your capacity to manage and mitigate any given situation will ultimately determine your hosting journey.

It's those maniacs that buy homes cash via quit claim deed off of craigslist that really get screwed.Make sure your property manager is a licensed real estate brokerage.Understand you can not eliminate all risk, only mitigate it.