Not only do they have the same people issues, but they also have issues that you have no experience in handling yet.For example, property managers deal with delinquent tenants, vandalism, non-payment of rent, malicious damage, disgruntled owners etc.

In order of decreasing importance, I worry about liability from burns on children/pets (they get ridiculously hot while operating), risk of house fire (like if they lean something combustible against it or do not provide a wide enough berth around it), and smoke damage/deposits on the walls from improper use/air mixture adjustment. 

Somebody wanting to sue for you backing out of a bad deal or accusing you of selling them a property with defects like unknown termite damage).

There was pet damage to a carpet and broken blinds that we plan on deducting from the deposit.

The disclosure indicates that there were termites mitigated in 2013 and that the damage was minimal. 

You will find that tenants many times will have violations like this, and you will have to decide if you stick to principle that they're lying to you and you evict them over it (which will possibly be much more difficult to do than to evict for nonpayment), or if you just look the other way as long as they're not causing damage.

We sent Paul a purchase agreement, with the addendum stating that this is an as-is sale and if the buyer fails to perform his EMD will be held by the seller as liquidated damages.

I like to think a jurisdiction would be hard pressed to revoke my rightfully obtained license without a healthy challenge for damages..anyhow MTR's are absolutely one of the most lucrative and necessary housing options on the Oregon Coast as very rarely can one find consecutive weeks or months of attractive furnished housing.

In other words, in a loss event (fire damage, loss of life, etc), the insurance company would most likely not cover it and you, or the entity that owns it, could be held 100% responsible for damages, negligence, etc. 

If it has been an ongoing issue it (according to insurance companies) was your responsibility to find and fix the problem before it caused damage.