I’m sure a crash is possible if interest rates hit 15-20% again, AND they defeat inflation, AND everyone decides they’d rather live outside or in a crowded apartment. 

And you'd also better create an addendum that specifies that the $50K does not go to him unless you purchase the property and have it held in escrow with a 3rd party attorney (again, defeating your 1031).  

There's lots of pages out there about how easy it is to defeat a smartkey lock, but I can't find any anecdotes of anyone actually getting robbed by a thief doing so.

Defeats the purpose.

Here in NYC you can find the best deal ever and it would still not cashflow (which defeats the purpose of the BRRRR strategy). 

https://www.theepochtimes.com/...the federal moratorium has been defeated, but liberal states are creating their own.

Either way that situation pretty much defeats the point of buying at auction, might as well just keep the $100k in the bank and save the stress if they will just take my profit.

But looks like it would be wise to not have our names on the policy as it would potentially defeat the purpose of having an LLC from an anonymity standpoint.

If you fly out I really hope it will be to find a new PM, because that would defeat the purpose of having one. 

What we will not allow is unsecured debt to be the down payment or closing costs because, historically when that was allowed, some huge percentage of the time that "unsecured" debt was recorded as a 2nd mortgage on the subject property the day after closing, thus entirely defeating the purpose of "skin in the game."