God forbid the property is destroyed by fire/flood. 

I have warned countless people that the "new", "Cheapest", and "shaking up the insurance market" carriers typically come into the market under priced, have a wave of claims, then they either jack up premiums to survive or fire their staff to keep heads above water.

Usually you have to pay for the privilege of getting a return phone call from an attorney.(9) We have over 30,000 of uncollected judgements on six cases and like the LA fires, try to forget about getting back what you had, move on and take precautions never to get into that situation again.

I should also mention we shut off the breaker (to the garage) after confirmation from two electricians and our contractor that we had a serious fire risk.   

Not sure about fire marshal would love that though, but at least we didn't drywall it 😫

I definitely understand everyone else's practical advice regarding "lifestyle investments" but also think there is something to be said about following what lights a fire for you! 

(NY counties are generally quite expensive)Do you have home owners insurance to cover fire or other damage?

They're hiring PMs for a reason and they fire them for not maximizing cash flow.  

Bad management can tank a deal just as fast as anything else.Did you fire the manager and work on finding new management?

Purchase price: $1,485,000 Beautiful estate-like property in the Redwood forest above Santa Cruz CA.