I have looked into "corporate" umbrella policies, but those have tended to be overly expensive in my findings.One thing you can do is require all of your tenants to purchase their own renters policy, and that will help cover most common things.And jumping ahead to an LLC, buying the property personally is going to be your best bet, since you are living there. 

There's ways to do it safely and not take any extra risks. 

Stay safe and well! 

The next few months will be unpredictable but people will always need a clean and safe place to live.

And yes, lead safe. 

:)I'd say move forward, just think about how to do it in a way that is safe for you and the applicants. 

If you have a safe margin and a good rainy-day fund, I'd say go for it.I'm not familiar with Yuba City, if the economy and rental market there were otherwise strong before COVID-19, they'll likely be strong after. 

@Diamond Nicole generally you are required to provide safe housing. 

Also, NPN are a riskier bet than just three months (or weeks) ago.

Stay safe