I am very new to the space and brand new to the bigger pockets platform.

Welcome to Bigger Pockets. 

I'd personally be a bit more conservative with the underwriting and make sure to see what the carrying costs could potential get to especially if this is a bigger renovation and not just cosmetic. 

You’ll be living in one unit and renting out the others— but with a bigger payday!

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

Make a decision and move forward.Don’t make things a bigger deal than they are.What do you think about the garage door color?

And even in receivorships like with some of the bigger chains it's not a given that just because a store goes dark the landlord gets nothing. 

I'm currently exploring real estate investments, which led me to discover Bigger Pockets.I'm new here and just exploring to get a sense of things.

My previous comment was "flagged" by bigger pockets as they think I was trying to sell you something for free, anyway.

Prior to the workshop we had done research for only a month, including signing up on Bigger Pockets.