Allstate (captive) is not a good place to be if you need any sort of sophistication with your risk management

Then, there are other people who are quite sophisticated with their structures and choose to invest money on the structure (you'll hear references to Trusts)...and then you'll have people talk about piercing the veil....and you'll hear some people say that as long as you have enough insurance, you are fine....and others will say that you have to be careful about relying on insurance to protect in all matters.

Most deals are not going to cashflow, as real estate is a very popular asset class and because of that the market is full of buyers who are not sophisticated and accept sub par returns, inflating prices.

My professional goal is to become a “sophisticated investor” and I am seeking any sort of Jr.

I believe for the more sophisticated investors, reasonable rent control (such as AB1482) will increase profits.  

Sophisticated buyers can find the best deals (after the auction!!) 

My personal opinion is that unless there is no other way to sell the house, subject to should only be used when BOTH parties are sophisticated investors.  

These scams are getting more and more sophisticated, many are actually getting by title companies, so they need to up their game IMO. 

The "sophisticated" models all for more inputs and/or better refinement of assumptions.  

Tenants are typically much less sophisticated than their landlord.