And I'm especially impressed with your mission work in Haiti. 

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

What is the cost of insurance (moderate) and what are the high risks (fire and earthquake)? 

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

@Lee Stephens make sure to account for the following expenses in your calculations:1) Mortgage2) Mortgage insurance (PMI or MIP) or FHA Risk base3) Property Taxes4) City Taxes5) HOA (Home Owner’s Association) Dues and Fees and Assessments6) Insurance  a) Property Hazard Insurance (0.3-0.45%)  b) Flood Insurance  c) Earthquake Insurance  d) Umbrella Insurance7) Vacancy Rate (usually 8% - the equivalent to one month a year, or 5-6% if multifamily and/or if experienced, if not use 8%)8) Utilities (you’ll have these if your tenant is not covering them and/or during vacancy)  a) Water § Sewer § Garbage  b) Electricity  c) Natural Gas  d) Propane9) General Maintenance (usually 5%)  a) Upkeep § Landscaping  b) Snow removal c) Repairs  d) New Appliances  e) Make ready10) Capital Expenditures (usually 5%, higher is the property is old and obsolete, less if fully rehabbed and all mechanicals and roof are new)11) Property Management (8%, even if you self manage, your time still has value and there might be a time when you'll want to be completely hands off or you'll not be able to do it, vacation, retirement, etc.), including...  

If not, what will you do in an event of a major earthquake??

Galveston Tx hurricane, 1900, San Francisco Earthquake 1906, Great Chicago fire 1871, Seattle fire 1889, Peshito fire 1871, Alabama tornado outbreak 2011, New Orleans Hurricane Katrina 2005, Mississippi flood of 1927, Joplin tornado 2011, New Hampshire hurricane of 1938, New York twin towers 2001, Oregon Heppner flash flood of 1903, Johnstown flood 1889, Vermont flood 1927, and I could list the worst 15 earthquakes in California to boot.

We have cracking issues on a duplex in CA due to bad soil/earthquakes - the cracks always reappear.

Then check to see it there are required earthquake repairs and when they are due for that property. 

Regrettably, everywhere has natural disasters, earthquake, wild fire, flood, hurricane, snow collapse.