Welcome to the community, Rajendran!

With that said Phoenix had one of the highest home price declines in the last market down turn.  

I look forward to fostering a growth in knowledge, understanding, and connection by utilizing the tools and resources provided through bigger pockets.Thank you for your time,Brian Luter

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

Who gets blamed for and/or has to handle the following unique to nonfamily roommates:1) Missing personal possessions?

Remember, they can always refer themselves😊Now, make it a goal to call at least 5-10 of these people EVERY day and ask a MAX OF THREE off the list below of who they know that:Just inherited a homeHad a loved one pass awayIs behind on their mortgage or tax paymentsHas a relative that can’t take care of their house anymoreHas a house they’re having trouble sellingIs facing bankruptcyKnows a probate attorneyKnows a bankruptcy attorneyetcWhy only three off the list per contact?

I would anticipate it would depend on the level of detail you desired but it has been my experience that the will do free estimates.

In most cases, the rehab money is interest free until you actually draw the money and if you never actually draw the funds, you won't owe the money when you go to pay off the loan.

After 45 + years as a real estate investor, broker, lender, fund manager and syndicator, I’ve become aware that the “dream” of many investors and investor “hopefuls” is to be able to generate enough cash flow to live off their real estate holdings and accumulate enough wealth to make “work” optional.

Do NOT buy anything from the Detroit Land Bank!