No question RE is a long game and those who try BRRRRR (I add the last R because there should be one called "Reserves") with $200 cash flow in low cost areas are generally going to be blown out of the water in short order.

Rain water used to sit in back yard and crawlspace.

And if their house is vacant, you can probably get the city/water company to turn off the water to the property.

That being said I purchased a beer water meter back in May 2019 prior to that I was making 1 to 2 deals every other month with Wholesale in assignment contracts double clothes and what have you.

What are the best coverages and limits to have in insurance policies to cover edge case scenarios like these Insurance Policy with water, mold, vandalism, pest etc. 

Quote from @Jayant Reddy: Mold requires a source of water.

Hello Jack, in Texas I find a lot of investors using the Subject 2 method, especially with FHA properties where they are at or under water on their mortgage, but most of the mortgage rates are under 4%.

I own a two-story duplex where water constantly drips down the siding, even when it hasn't rained for days or weeks.

What adds value is the sewer/septic, water and electric at the site.

Purchase price: $340,000 Cash invested: $7,000 Water front, 4 bed, 2 bath, detached 1 car garage, pier and dock.