While I haven't personally experienced a tenant causing major fire damage, here are a few thoughts and suggestions based on what I've learned from the BiggerPockets community:First and foremost, I hope everyone is safe and unharmed.

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

. - 6% cap rate reflects a nice safe part of Los Angeles, California, a prudent investment, not one that will make anyone rich overnight, but a place that higher net worth individuals park wealth to preserve it (imagine the depreciation write-off). 6% cap rate also tells us, right off the bat, that we're going to be in the ballpark of 60% LTV.- We will stipulate that this is hypothetical. 

That’s a big number for Terre Haute, in my opinionIf I wanted to be on the safe side, I’d do the sewer camera inspection.I wouldn’t count on getting much from the warranty.

Are there self-directed, non-safe-harbor solutions that are more cost efficient than safe harbor plans that I am missing? 

A cookie cutter first deal looks like:Purchase: 65k - 90kRehab: 50k - 75kARV = Project Cost/.7Neighborhood: B or betterRehab type: cosmeticAvg Days on Market in zip code: 30 or lessThat's an example of a very safe deal for a lender to fund for a newbie.For a 0 experience expect to pay 11.5%+ in interest.Keep in mind the cost of a project's lifecycle. 

While this might sound low compared to some high-yield investments, it's steady and relatively safe given the high down payment and the over-market selling price.In conclusion, while the 3.03% CAGR might seem small, remember that this calculation doesn’t consider other potential financial benefits like tax advantages or the value of having the capital upfront.

The need to act fast to address lease violations and knowing how to safely evict when needed.A property manager isnt a MUST HAVE but it surely helps to scale your investment business if thats the goal. 

I really see Columbus Ohio as an extremely safe bet for the next 10-20 years.

You as the landlord will still need to have due diligence on who you rent to and you need to be fair and not treat that property any different because of the area meaning - keep it safe (livable), updated, and be just as available to the tenants needs as you would be to an A class area.