Many people have a mortgage on a property where the land value is much greater than the home (aka near the water) and insurance is not able to pay off your entire outstanding mortgage.

I am a bit concerned about water long term in AZ and NV. 

CA, in total continues to lose 100k's of population and continues to add onerous legislation, including the state rent cap they passed a few years ago (doesn't apply to sfr's though).I am not sure why anyone would want to jump in the deep shark infested waters right before feeding time, unless you have a clear proven strategy, or a very long time horizon.

Water issues are the most common. 

The new data shows that a number of Austin suburbs with at least 5,000 people logged big gains: Dripping Springs (23.3%), Liberty Hill (14.9%), Georgetown (10.6%), Kyle (9%) and Leander (7.6%).

Community water, and electric are at the street.

New payment is 4150 including taxes and insurance 80 waterHot water bill is 125Rents 8350Very happy with my first BRRRR

You may have a 1M policy, but 25K for mold limit.Cracked water pipe MAY be covered.

I haven't heard of an effective date yet, but it sounded like Spring of this year.

I ASSUME you’re talking $400+ in extra expenses for providing water, power, sewer, gas, internet, communal area cleaning, and exterior maintenance.