Owners of thousands of Los Angeles wooden apartment buildings at risk of collapse in a major earthquake will begin receiving retrofit orders as early as February 2016, according to the Los Angeles Times. 

Unless your are wanting to rack up your post count you can "mention" someone anywhere in your @Nick Elrod post.

the exterior could also use a face lift which constists of wooden siding.

This is highly concerning since the original owner stopped paying the bank, racked up unsafe structure liens with the bank, and ultimately transferred title via shortsale to current owner.

I have been in a high end home (5000+ square feet) and the front door opened to a little area where there wasn't a closet, and the owners just had a coat rack there and a little table.

As George said  buy a used car/truck that is dependable and do not rack up credit card debt.

The NAV for my portfolio took a huge hit, but I rode it out, and it ended very well in the end, but it was a nerve racking period.What I would suggest, and what I'm starting to do more of, is to do a stress test of your current deals and portfolio.

Get a few dead presidents stashed away.Also if you are planning on racking up some school debt, learn about Coverdell tax free accounts. 

I would-be tempted to provide a wooden chopping block for the first tenant at least.

I almost can't even comprehend spenders and people who rack up debt.