in my business I have come to understand that those who steal or destroy or harm others are doing it because they can, not because they do not like you. 

They don't get destroyed, condemned, or somehow cancelled when people move out of them. 

And if all this whacko spending destroys our country?

If you are using licensed contractors, they should be bonded and insured so if they do anything that destroys the house, their insurance should cover it.  99% of what you are trying to protect is against damage that would destroy the house (Weather, Fire, etc).

Do not rely on your parents financial support starting out because if you fail you will destroy their lives.

Get over the credit pull phobia; the notion that credit pulls destroy your credit was made up so dumb baby boomers would stop getting a new Macy's card (and $3,000 more in debt!) 

Overall pretty pleasant experience. i think it was like 400 for the general home inspection and 50 for wood destroying insects.

I'd hate if my parents had to foreclose or declare bankruptcy or destroy the relationship with my parents over a risky adventure.

They said it happens more than you think, (typically when logging or clearing land), and there were three ways to calculate the replacement value of the tree: First, what is the cost of buying a 20+ year old tree, transporting it and planting it in the same spot; Second, have a property assessment done showing the approximate loss to the property value based on the percentage of landscaping destroyed; Lastly, have an arborist come out and do a calculation where they "rebuild" the trunk based on the cost of a smaller tree of the same species.I went with the 3rd, as the other two just seemed unreasonably high.

Most of them need cosmetic work to but are completely structurally sound and safe to live in.I'm unsure of all the legal matters of renting out a duplex if the tenant doesn't pay rent or destroys the place, and having to get evicted.