could something catastrophic happen that would make me wish i'd done it?

Also, some carriers may be very competitively priced in one region, but not so in another region that may have higher risk exposures from natural catastrophe types of losses, i.e., hurricanes, tornadoes, etc.You said that this property is a buy & hold, so I'm assuming you are going to be renting it out.

We chose condos because it reduces certain upkeep and maintenance expenses and we like having potentially catastrophic issues (roof, etc) covered by the HOA as Stephen E mentioned.Ali is right though, it's definitely harder to cashflow them.

Seller understands that buyer may deed the house back to sell at some later point and based on mutual understanding amongst buyer and seller.Seller understands that this could be a permanent solution to the property problem and disposition or this could end up being a short term solution based on worst-case scenario outcome, i.e. something catastrophic occurs that keeps the buyer from making payments.

Interest rates could rise and it would hurt but I don't believe it to be catastrophic, I could most likely cover the increase in loan payments with cash flow from the asset investments (buy assets not pay for liabilities right?)

I know this will happen for me faster and faster as more time goes by (absent a major catastrophe, etc.), but it would be nice to hear about the payoff now from others who are there now.Thanks in advance.

I feel that the risk of them calling the note due in a high-interest rate environment in several years is far greater than the risk of a catastrophic lawsuit that my insurance does not cover.

Tough times are ahead, and my post is intended to shed light on these facts so that families and investors alike can work together to plan ahead and get creative.As for competing with BlackRock, they are smart opportunists and will buy en mass when we have major catastrophic events stemmed from immigration, crime, pandemics, war, natural disasters, etc. 

Dead Equity isn't dead equity because your speculating on the value and praying for a fire / earthquake or some other catastrophe where the insurance might provide for better income than one would be getting from the property otherwise. 

Insurance is catastrophic situations, not for a sub-$1000 repair.