If the property isn't flooded, frozen, burning, or housing someone dead, we usually don't need to know about it until business hours the next day.

Claiming they just use a HELOC or CC as reserves and if something goes wrong they will just use those credit lines (ignoring that credit lines can be frozen). 

@Caleb Richardson the panhandle, forgotten coast has intrigued me for a while, like many a frozen northeast investor.

I’ve had some minor issues here and there, your average leaky faucet, running toilet type of situations but the only real catastrophe I’ve had in the past 3 years happened on the other side of the duplex I house hack and it was a frozen pipe that burst on the coldest night of the winter this past year.

If you pay your mortgage and taxes and furnishings and Linens and  utilities and insurance and maintenance and commission on credit card fee and everything else, someone taking 30% of the gross is reducing your net beyond belief. when you are frozen or motivated by fear or lack of understanding, you are completely on the wrong path.

Also, during the last crash a lot of peoples HELOCs got frozen, and then you are forced to pay off the remaining balance within a certain number of years.

Purchase price: $65,000 Cash invested: $55,000 At 18 Aberdeen Ave, a frozen-in-time townhome, our renovation adventure began with the bathroom—a sight to behold with mismatched tiles and a worn-out bathtub.

When considering themed bedrooms think crazy custom-made Jumanji bunk beds and not frozen decals and a walmart.com bedspread.

After my HVAC technician got there he let me know the coils were frozen over. 

@Alex Castillo We have several clients who self insure on the Property, but no one who self insures for the Liability.If you have a lender, they require you to have coverage in place.  95% of investors will have a lender, so self insuring is not an option.If you own the property outright, then you have to determine if you want to pay out of pocket for 1)  Any sort of property damage;  Fire, Wind, Frozen pipes, etc.2)  Liability claims;  tenant slip & falls, or even death in the property they argue you had some responsibility for.