If you plan to use cash to finance your acquisition and rehab expenses, this will help minimize risk exposure to a certain degree.

A law degree does not mean you know anything re wraps.If worse comes to worse, you can stop the foreclosure with legal action - it costs some but you will not lose your equity.I would not throw the baby out with the bath water re doing wraps and I do hope all works out for you.Reach out if you need a referral to a good AZ attorney to helpBe careful out there guysAlan Not to be too blunt, but you are handing bullets to a six year old with a gun.

Guest left all windows and door open in our cabin in -15 degree weather when they left causing a frozen pipe.

That limits LTR possibilities IMHO to some degree.

Although this is a long term investment and not in the main stream, it has added a certain level of comfort knowing the above potential investment risks are to a degree reduced.

If this is not something you're interested in delving into and learning to a high degree, then investing in publicly traded REITs would be another good option for you, which have historically returned about 13.5 per cent Per year over the past 50 years (1977-present), beating the US stock market by two per cent and even beating private real estate investing by 4 per cent (that's compared with the average real estate investor, not the experts here at Bigger Pockets).

There are various degrees of screwing the host, but every change that is less host friendly is screwing the host to some degree.  

I invest in Boise, ID and do quite a few BRRRRs, LTRs and STRs- varying degrees of success depending on how much equity we can force and the type of back end financing we can find, but the tax benefits are great and it's a rapidly growing market and Idaho is probably the most landlord friendly state in the nation. 

I also have a degree in mathematics from an Ivy League college and I'm smarter than I sound or look, so I apologize if I threw you off with the word cute.

It does however give you a degree of independence to choose what you want to do.As your portfolio grows you'll also feel the weight of future capex responsibility more, which ironically points you to growing more cash flow through more real estate.The other issue is that you are chasing a moving goalpost.