A lot of people in the current fire area had their insurance canceled lately and are really screwed, Reminds me of Florida and the insurance problem caused by the hurricanes. also thing of the Lahina fire on Maui there was no forest there freak down slope winds and buildings that were built with very dry timber with no fire protection in mind.. this stuff happens.If were gonna use fires as a measure of "good" or "bad" than Canada is hell and most of the country should evacuate because holly-heck do they have fires galore. 

Neither of these properties is a median-type homes in Memphis, no matter how you measure. 

And very rarely does a market hold it's position measured over decades as there is a natural cycle of growth, maturity, decline, redevelopment, growth, maturity, decline, redev...... - OPPORTUNITY COST: The 1 constant in life is CHANGE.

@Jin ZhangI would only measure pros and cons against a goal.

After all, square footage is about more than raw measurements; it’s about how seamlessly the space integrates into the home’s overall living enviroment.If you’re serious about making that office “count,” consider checking local guidelines or even chatting with a reputable appraiser in the Phoenix area..from what I’ve heard they’ve handled properties like this before.

@Chirdeep BhutaniCap rates are a good starting point but are only a single measurement of an investment.

Most will have the public off the shelf, and those DO come with the actions that NO they do NOT have to give you ___ time notice, they may, but they also may take proactive measure to immediately act.

Just because a property doesn't measure up to a rule of thumb doesn't mean it's a bad deal. 

So to measure the risk, if you're in R-7 & R-8 it is entirely up to the local councilmember who covers the area as to whether or not they would be willing to introduce the legislation.  

This depicts rents are currently lowest ever as measured against the cost of ownership.