I lived in LA for a decade and we have many friends, family, clients and community members suffering and send our sincerest condolences to all of those experiencing and affected this tragedy. 

I don't have a mortgage on this property as I purchased with all cash.

Along the way, we see so many folks make mistakes that they need to get amended and that can take years to finally recoup all of the money lost from paying to much. 

Hello all I'm new to bigger pockets I've been learning about real estate and the different ways real estate can benefit me now that I have a plan and know more specifically what I want out of it I'm just stuck on how I should go about buying my first rental property

Hey Mark, welcome to the Forums.Wishing you all the best on your journey.

All the stuff you need to dig in to.

We design flips all across the US with an ARV of less than $225k.

For underwriting purposes, lenders add back all depreciation.

I would suggest taking the route of option 2 or 3, so not only are you saving over 10k in rent per year but the residents help in paying down the debt.

A lot of buildings don't have a carrier willing to insure at all.