If you simply bought the property then it's easy to see that Risk of Loss occurred when money changed hands, the closing statements were all closed and the deed recorded.  

Gives me enough time to sort out any potential issues that may occur if the payment does not go through.

Because settlement has occurred without the intermediary presence on the settlement statement and because you have the check your opportunity to do an exchange is done.  

In the past 30 years the population of Texas has doubled.  90% of that growth has occurred within 50 miles of I-35.  

Yearly or biannual inspections will occur in the City of LA even if you do not have a section 8 tenant as it is part of the RSO (Rent Stabilization Ordinance), the standards for section 8 and the city are not far from each other so if you can pass one you likely can pass the other. 

There are 100 scenarios you need to run about timelines.Things will change over the years so if you aren't in lock-step right now you'll likely not be able to navigate those life-hiccups that occur in the future.  

What if there's no interest in insuring the actual building or landlords property, but just insuring against bodily harm/injuries that occur on the property...Are there policies for just that?

The same issue can occur over time where labor costs can change.

I feel like this is definitely on the tenant since this has occurred 2 months after they have moved in, but not 100% sure. 

If there were errors, they take that back to the sheriff and the foreclosing attorney to work things out which must occur within the 10-day redemption period.