I'm in Waco, so probably closer to $90 to $100, but we have a lot of visitors (2nd most in the nation right now), so I'm sure I could swing $600 / mo in rentals and break even.2) Nothing extra required, but I would opt into Turo's $1M liability policy.  

In general, you get to carry this paper "lost" until you sell the property and reconcile all of the income and expenses while you held the property and estimate any tax liability.  

Consider the fact that this metaphorical person might bike or walk to work, eliminating the financial liability of a car.

I would not increase my personal liability in my own house unless I was very confident in my investment. 

That is on your books as a liability because more than likely you will have to return part if not all of it.

If the information is misused, liability can attachhttp://www.ncsl.org/research/telecommunications-and-information-technology/data-security-laws.aspx

A central message of that book is that your home is a liability, not an asset.

On the first policy they weren't explicit on not renting when they wrote it, but this time they are.The difference in price between the two policies could pay for remodeling the home from flood in 8-9 years.Could I get the cheaper policy to satisfy the bank in the amount of the loan, then a cheaper policy to cover my liability, or an umbrella.

The value of hiring an attorney is in assisting with things like portfolio structure, liability protection, lease transfers, compliance, investor documentation, cost segregation, etc...

Especially since as an investor, you’ll want to have high liability limits.