I was hoping to connect will someone with some event venue experience.

A mass shooting occurred tonight on the street next to the street where the property is located, leaving nine people shot and one dead.

Recently came across a lake house which we would like to rent out for weddings and event venues.

This is the most unique real estate investor club, education, networking and mastermind event in the US!

Details matter: keep a log (something like an excel spreadsheet) that documents the date, duration, and events that occurred/work you did. 2.

What are the biggest challenges people have faced with this. Also how do I make sure to get good tenants?

The NC disclosure form does ask if there have been past flood insurance claims, or damage from past floods or FEMA events.

It's designed to protect assets in the event of lawsuits, negligence, etc. and it only applies when there is underlying insurance coverage. 

If you are setting aside funds for capex, taxes, insurance, or other expenses that don't occur monthly, transfer those funds to Savings each month and hold them there until it's time to spend them.

But even if you have a completely self-serve laundromat, problems will still occur.