I used to charge a daily late fee and my policy was that the late fee was charged every day, including the day rent is paid.However, this kind of policy is confusing.

If you're unwilling to comply with my policy, then I'm sorry to say you won't be able to rent from me."

If going the conventional several mortgages route, what are other safety measures to minimize risk besides a good insurance policy? 

And LL policies are one of em.

A room to check out and watch the trader floor in would be Atlas, it's free although you can't talk in the trader floor there are many calls and news posted there in real time and could very well mean you don't even need a scanner.

Most of my properties are in a corporation and I carry extra insurance as well as an umbrella policy, however if that was penetrated I want my retirement funds to be secure.

You could wait for a while if you are in no rush to sell --- historically you needed to wait at least 21 years for a title underwriter to write a policy for such properties. 

Cobbs Creek and Sharswood are particularly hot right now from spillover. 6abc News just had a great article about how hot the market is right now, selling faster this past July than they ever have. 

that is  good news  regarding the ease  you were able to sell and get full price .....the buyers  seem to be active  in the area in King county ....not much  new inventory so yours  was probably noticed right away...the other element helping stimulate activity is the low interest  rates .......the post above mentioning the lending tightening is definitely  accurate  especially for " jumbo " loans  ( > 741,750  for SFR) ..

Their predictions for the second quarter & second half of 2020 include some GOOD news!