I was told by a local experienced investor that insurance companies will always go cheap with paying out to contractors in the event a property needs to be rebuilt. 

Hi Adam,The seller pays the seller commissions and (usually) covers the buyers commissions as well so you shouldn't worry about those fees.The 10% vs 20% I feel like is a personal opinion.

In reality, you are going to be the one to pay for that.  

No need to pay big bucks for this. 

If you are nearby, if you have ever been a pizza delivery person, maybe deliver a pizza to the wrong house that may or may not be the one being foreclosed on so atleast you can see inside a small portion. we used to just go knock on the door some folks would actually let you look around.

This is my third year investing with my mini me 12 year old and this is our 5th deal.My 12 year old found us a great deal- I teamed up with my friend and family member agreed to pay purchase and renovations.

The ONLY exception is that a landlord may charge two months' rent if the tenant qualifies for utility assistance, the lease requires the tenant to pay utilities directly to the landlord, and the tenant and landlord agree in writing.

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.

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

What you use is what you have to pay back.Cash-Out Refinance Cash-out refinance this gives you cash from the equity you have built up in your home.