Remember a couple of days ago I asked about the tenant who is saying she doesn't have to pay rent because of a sewage backup?

After working my company for 6 years I’ve come to a realization that I need a back up plan for mine and my fiancés future.

However, there are some things that don't make sense to me:- The properties in the nearby area are listed for much more- Judging by what I read on BP, most good deals are found off-market these days whereas this property is on the MLS- This property has been listed for 6 weeks and is not even under contract, contingent, accepting backup offers, etc.

But hey, that 30k property "rents' for 850 right... all about that cash flow.. until it's destroyed and you dump another 30k into it to fix it back up or dump it to a wholesaler for 10k who then sales it to someone who then sells it to out of state investor for 60k claiming 1200 in rent.

I know there is always the possibility of having to pull that out earlier if something happens with the unit or the lease agreement, and with that would come penalties in the CD route, but the possibility of penalties vs the potential gains may outweigh the risk, especially if you keep a certain percentage as a back up and not place all security deposits into a CD account. 

After working my company for 6 years I’ve come to a realization that I need a back up plan for mine and my fiancés future.

A lot of people up north have them but also have a back up supply for heat due to them not working well or efficiently when the temperatures get very cold. 

I agree with @Thomas S. but based on what you said about the property, I would be surprised if this is a financeable/refinanceable property.And probably most importantly, if that PM decides to wash their hands of the property, what's the backup plan?

(normally recommended, especially if you are a landlord)- Water Backup: For water damage due to the backup of Sewers or Drains.- Personal Articles: Coverage for belongings that have a special or collectors value such as Jewelry, Furs, Fine Arts, Collectibles, etc...Depending on which company is being quoted, some of these otherfactors may get you credits:- Insurance Score (company pulls certain info out of your credit report)   It is not your credit score but generally better credit will result in a    better score- Time at your job- Education level- time at current residenceGood Luck

Doing this will allow you to leverage your remaining funds as a backup in case surprises occur.