The biggest thing to consider in hurricane risk management areas such as Baton Rouge is your wind and hail (W&H) deductible, this can also be called a hurricane deductible/named storm or tropical cyclone deductible.

This eliminates any risk of damage and amounts to less time then pushing back through and  pulling.

What happens in these situations is you minimize the risk that someone claiming the right to collect on the 1990 loan resurfaces, demands payment, and the title insurer has to pay.

And a lot of landlords prefer to avoid Cincinnati Public like @Joseph Cornwell.I think a lot of it comes down to your personal risk tolerance and what you're trying to do.

Investment debts are good debts if you can manage the risk well. 

There is a lot of risk going that route though, and you need a back up plan to pay that off quickly

Different investors have different risk/reward profiles and that's what drives the whole range of the market. 

Anything he has is at risk and back 5 years at least if he ends up tapping into the medicaid system.

Wanted to get some feedback around if that could be a potential liability or risk factor if renting out the home.

that all depends on your risk tolerance and profit % of the next thing vs the loan costs.