I am very conservative by nature and plan for the worst.

Most properties on the Gulf Coast have appreciated over the past few years significantly, but that is no guarantee for the future, especially with unexpected natural events.

Or, what unusual circumstance or natural disasters could pose a problem.3. 

My contract is a TAR and there is the following clause(2) Landlord will NOT pay to repair the following items unless caused by Landlord's negligence:(e) items that are cosmetic in nature with no impact on the functionality or use of the item;Say while the tenants are occupying and there is a shift in the property and there are cracks in the drywall not caused by a tenant am I required to fix since this is cosmetic? 

For doing so I'm willing to split proceeds from any deals acquired (naturally).

Investment is a nature extension what you enjoy doing.

Naturally, with those items, you may hold on to them, but you are eventually going to get rid of them after the rental term.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

On the one hand you have a new potential tenant pool that naturally turns itself over.

Be wary of trees growing too close to your sewer lines, the roots will naturally try to fine a crack in the line and invade.