I'm not sure how "well off" they are, but I'm guessing they are comfortable, as they are probably just about breaking even, if not losing money on this property after taxes, insurance, etc.They aren't marketing the place and we've never heard any mention of them thinking to sell.  

I've leased many times so know what to say to tenants - the pet discussion was thorough and often - we even delayed signing the lease as i was told by Mr tenant that his wife may want to buy a yorki-poo - (I was ok with it at the beginning but my policy is a higher deposit and I meet the dog) he finally tells me during our leasing process he does not want a dog and is deadly afraid of them and they will NOT have a dog in the house.The PM i'm partnering with in my business goes over today to do a property inspection - they hid the pitbull but the Yorkie-poo was found in the downstairs bathroom with a kennel and pee pads (meaning it's not potty trained) - I despise these little dogs as they will piss all over the carpet and since they're so little the tenants wont care or find the mess and clean it up. 

We will have liability up to 1M on the property.My questions stem from loan/Asset Protection.If we were sued, and for the sake of this discussion we are sued and lose $2m, would we only lose our $1m (insurance proceeds) and 20% capital (assuming we have to sell the property). 

I would question the policy of not renting rooms (you cannot have a roommate?

I work with and get to know local bankers, insurance agents, etc and they might even give me leads-it has happened!

Need proper insurance in all aspects that's for sure. 

I heard the insurance can also be a real pain due to the hurricanes etc.Anyone with experience in either/both the FL & CA market that can weigh in on this?

With 20% down it will cost me around $930 after mortgage, taxes and insurance.

The shower was fixed by them, however he said the water shut off valve wasn't covered by the policy...1.

Treasury bonds and require tenants to pay taxes, insurance and improvements, can fool property investors.