My landlord insurance will have to cover the costs of fixing the interior like replacing carpet, interior painting etc.

Eventually, I’d like to start using the cash flow to pay myself and work toward replacing my day job income.

Unless new companies create replacement jobs in the city requiring similar skills and pay comparable wages, your tenants may be forced to take lower-paying service sector jobs.

I'm not sure which one I have to replace, if any. 

Thus, they are more apt to be torn down since they are in central locations and larger projects can replace them.With regards to the general BP poster or reader, doubt most of us are the $100mm to $300mm investor range to consider taking advantage of these properties.Looks like you're in California. 

Yes, that makes perfect sense, especially in such a large transaction to find the replacement property.

It usually doesn't cover for full replacement of your property.

Always ask, could you be replaced by a realtors listing?

Here are a few lessons I learned during the renovation, many of which stemmed from the age of the house and unexpected hidden damages:1.Damaged Plumbing: Several plumbing pipes were ruptured or severely damaged, requiring replacement.2.Termite Infestation: I discovered termites, which led to additional costs for treatment and repairs.3.Rotted Wood: Significant sections of wood in the structure were rotted and had to be replaced.4.Lack of Insulation: There was no insulation in the att Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

WE are seeing this in the Portland market.Montgomery Park the largest office complex in the state that sold about 7 years ago for 250 mil just got bought ( after no one bid it at foreclosure) for 25 mil by Menashe family. its over 1 million sq ft.. dont think you can lose on something like that. reminds me of the buys in 2010 in some markets were sfr's were selling for 1/4 of replacement costs..