With insurance companies canceling policies and raising rates has anyone uncovered a way to self insure rental properties?  

Research comparable properties in the area to gauge pricing, rental rates, vacancy rates, and demand.Property Insurance: Obtain quotes for property insurance to understand the potential costs and coverage options.Survey: Consider getting a property survey to confirm boundaries, easements, and encroachments.Due Diligence Contingencies: Include due diligence contingencies in your purchase agreement to allow time for inspections, assessments, and resolution of any issues uncovered during the process.Risk Assessment: Identify and assess potential risks associated with the property, such as market volatility, tenant turnover, maintenance costs, or regulatory changes.Exit Strategy: Develop a contingency plan or exit strategy in case the investment doesn't meet your expectations or unforeseen circumstances arise.By thoroughly conducting due diligence, you can minimize risks and make an informed decision about purchasing the property.

What are some proven strategies for uncovering promising investment properties?

Although they have uncovered them and it seems the condensation is still there...

To begin with and develop confidence, start small by beginning with a single rental property or a modest multi-unit property.To choose the ideal property kinds for your investment goals and risk tolerance, do in-depth market research to uncover attractive investment markets and examine local market trends.

Sounds like they didn't set proper expectations with the seller, didn't uncover all hidden objections, or didn't have a solid contract in the first place.

. 😊  I've been thinking more about your question based on my LA experience, and some great advice I've read from three days of lurking here on BP from some RE veterans, based less on my fantasy but more on what I would do with your idea to start out at 1.5 and move into 3-5 million houses.First, it's all going to come down to your goals, here's a quote about that from Don Konipol (from the forum post https://www.biggerpockets.com/forums/519/topics/1150499-the-...Quote from @Don Konipol:IMO, the financial reasons for investing in real estate include 1- Asset Preservation2- Increase Wealth3- Current Income4- Tax MinimizationWhile these four are not mutually exclusive, the more you benefit in one area the less will be the benefit in the others, given normal market conditions, unless you uncover something everyone else has missed.

After that, you may be subject to other forms of inspections that uncover more.

Here's what would be great to share:The unexpected: Did you uncover any surprising elements during the flip?

Conduct due diligence to uncover any potential legal liabilities.Overleveraging: Excessive debt or aggressive financing structures may leave little room for unforeseen expenses or market downturns.