.: Quote from @Darius Ogloza: I like to reason from the point of the worst case scenario. 

However, some sort of business entity to protect yourself would be a good idea in my opinion. - Investment RE in Nashville TN

I have no Real Estate credentials or portfolio of any sort.

I'm just lucky my guys called me before they threw the bucket and the bundle away.I have no expertise in this sort of thing and don't know how I should invest this unexpected windfall. 

The best and worst neighborhoods are staying rented. 

Additionally, getting the insurance sorted was very difficult since he had a lender placed policy.

Instead of worrying about that sort of thing I prefer to focus on how I can use real estate to EARN that sum.

The closer you get to the 1% rule means you'll be buying an old, fixer upper, in the worst parts of town.The other real trick is finding 4plex. 

You can network with all sorts of local investors that may be doing what you want to do or attend focus group meetings to specialize in niches like multi family, flipping, landlording and more.

We personally don't close on properties unless they are vacant at close.Ask yourself, "What is the worst that could happen in this situation?