The advantage is that owners are motivated, most of the time, not always.Yes, the law recognizes that motivation and vulnerability and has "wrapped it up" to protect lenders and consumer/owners.

I was SCHOCKED at how big and deep the cuts were and how vulnerable Corian really is.

We do not want to be vulnerable under our own names, even if we pay a little more in interest.  

But here is what the PM said to me:When they are not on one of our leases both you & us are in an incredibly vulnerable position.

It certainly widened our understanding on which specific neighborhoods would be most vulnerable to the 3 main concerns OP listed out. 

Without proper strengthening, these vulnerable buildings may be subjected to structural failure during and/or after an earthquake.

Millcreek), but it also has areas that, IMO, are very vulnerable to a market downturn right now (e.g.; the less desirable neighborhoods on the West side).

Being a new investor and out of state put me into a vulnerable position.

Calculate that as a percentage of current rents, and that will give you an idea of just how vulnerable your portfolio is.

This one should have been a no-brainer, but again I was so excited to see my “maybe first deal” that I neglected to do it which left me vulnerable to the spiders and other creepy crawly things that lurk in abandoned homes.