Good afternoon,I am renting out my first property and it seems like it is important for me to require renters insurance from the tenant.What would you say to a tenant as to why having renters insurance is a benefit to them?

There could be occasional episodes focused on people who don't own rental properties.

I have never purchased an investment property, have minimum knowledge besides what I've studied on, and have zero hands on experience.

Have you had to foreclose on any property and has the investor lost any money?

People have tapped into everything they already have to get some money to spend it frivolously or try to "invest".Now, one of the last few lines is their home equity. 

In a tough market, it's easy to get distracted by all the shiny opportunities that come up.For example, to really focus on growing our real estate agent business, we made the difficult decision to stop buying investment properties this year.

My partners and I recently acquired a mixed-use property, and we’re facing a challenge with one of our commercial tenants.

I would buy an investment property with more money down for you, let them live there and manage it, and add their "rent" to an ownership stake over time.

Would it be better to purchase this for the appreciation to be able to refinance in two years to pull the equity and move into the next property and have this for tenants to pay off? 

I have a property in Memphis, TN that is zoned as mixed-use (RW).