I own a couple rentals in Oklahoma City, currently have four leases, and I’m already wanting to throw my small 3 foot high filing cabinet I bought at Walmart in a burning garbage can...including all contents.  

I've seen these things eat chunks of grease-soaked drywall and wood from cabinets, so if  you've got some saturated wood in the cabinet, cleaning the surface won't get rid of them.You might also have to change carpets also - since there's really no way to fully clean carpet...I've also seen german roaches infesting a burned out unit feasting on burned greasy cabinets and walls.   

If you can stay where you are now without burning any bridges, I suggest you stay there for the two months you need to save up for the down payment.

That could potentially burn a bridge with that particular GC.

Investors get burned by contractors all the time. 

Nice guy but he relapsed and covered the heat lamp it the bathroom with a towel and left it on, started a fire, towel dropped and burned plastic tub, corner of cabinet, soot everywhere.

So basically, if 4plex were to burn down, my insurance will build it for 320k, maybe with inflation cost, now 340k.

Seller has a property that caught fire and its not livable. How can I make an offer to seller?Is it the same as running comps to get the ARV?

The first property was a single family home that we essentially wholesaled and then we turned and burned for the big stuff.

I suppose it may work if you have a burning desire to do it.my partner in my airplane is doing something similar in Oregon he started a tiny homes manufacturing company ( making his own) and he owns a nice chunk of properly zoned dirt in Oregon 10 acres .. its worth about 3 million as it sits.. but he is going to sell the tiny homes then do 50 year leases on the under lying dirt so in essence create his own park as it were.But he has the Dinero to follow his whims and social desires of creating affordable housing for the mass's.