- What are my real risks in the event that the building is destroyed in an earthquake event and I DO NOT have coverage?

How soon do you want that capital?

I feel versed in the process and still would like to find someone experienced to do this with.

Also what method do you use to collect rent?

We used a HELOC on our primary to purchase and begin renovations on a duplex nearby, and just this month closed on a fourplex that has a couple units rented, and a couple that need full demo/flip (which is now in progress).I'm taking some big swings and really having a blast doing it.

No sense in paying 9% interest by using equity unless you have to do so.  

I truly do not believe they have changed or will change.

You can still do 15-20%  down on the initial purchase price, however given the tightness of the deal, you might not be able to finance all of your proposed renovations, unless you cut the budget. 

When doing business loan for 4+ units multifamily, my W2 can not be used to calculate DSCR.

@Stepan Hedz  having looked at phoenix area flips lately it is obvious to me that some flippers aren't doing a great job.