And make sure to account for the following expenses:1) Mortgage 2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes 4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments 6) Insurance  a) Property Hazard Insurance  b) Flood Insurance   c) Earthquake Insurance   d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)  a) Water § Sewer § Garbage  b) Electricity c) Natural Gas d) Propane9) General Maintenance (usually 5%)  a) Upkeep § Landscaping  b) Snow removal  c) Repairs   d) New Appliances 10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.) 

. - Earthquakes - If STR doesn't work, we're on the hook for a big monthly payment. - VERY hard to find a house that fits...2.

Have you confirmed there is not earthquake retrofit needed?

Denver is 5,276 feet above current sea level.Some believe California will have an earthquake and slide into the ocean, making Arizona have ocean front property.The lowest point in Arizona is 70 feet above sea level. 

For me though 08 to 2011 was an event I never saw in the previous 30 years in the business there was some regional blood letting.. many don't realize but the SF bay area right after the earthquake and war some high end homes dropped 50% even in the pristine areas.. so its happened.. but on a national scale 08 hopefully was a once in a lifetime event. 

@Abby Ley Flipping in Chch thees days is mainly done by people who specialize in earthquake damaged homes.

I get that we would love to learn from history, but whose to say that another different pandemic won't come… or an earthquake, or a war….

It's old and I worry a bit about the walls falling down during Seattle's overdue earthquake.

Roughly three thousand people died in San Francisco’s 1906 earthquake.

However, we are also seeing increasing number of earthquakes so things must be pretty bad on the west coast even the earthquakes are moving to Texas...Cheers...