Unknown expenses are usually a result of poor/deferred maintenance, or something catastrophic.

As far as a "crash", most don't see that as a possibility unless we, as a nation, have a catastrophic event.

It’s not earning any real interest, so although I’d like to use some of that $ to invest, it’s there in the event I lose my job or some unforeseen catastrophe takes place (knock on wood)!

I have other homes F&C if I need to have one available in case of catastrophe.

- What happens if there's a catastrophic incident (lawsuit, destruction with no insurance, etc)?

., however, we're going to see a different potential duplex today (still about 30 minutes from us) and we've run the calculations under numerous best and worst case scenarios and we're thinking about trying to get an agreement of sale today, pending anything catastrophic during the showing.

May not be a problem if the issue was addressed or if it was from a "Catastrophic" loss   such as a hurricane8.

It's hard to appreciate the value of a good insurance broker unless you have catastrophic issues (or you are a lawyer that seen clients go through catastrophic issues). 

Shawn would be able to give better guidance on the LLC's but I have each property in its own LLC, little less cost efficient, but should something catastrophic that even the umbrella wouldn't cover, I only lose 1 property instead of 4 in my case, so it's worth the added cost IMO.

I basically have to be present in case of a catastrophic failure.I have access to the internet and have hours upon hours to kill.