At one point he started the process of declaring BK.

And I do like to flex my imagination muscle and practice my business planning skills.   

(except for you have a Declaration of Homestead if it exists in CA, we have it here in MA up to $500K).  

The insurance is about right since it is an HOA-6 policy that covers LL liability and interior depending on how the condo declaration is defined.

I want to know income, job security and when did they declare BK, if they did.

When that comes how do real estate investors weather the storm and not wind up declaring bankruptcy?

Why not just declare marshall law and have the goose-stepping storm troopers come and take over our businesses?

This isn't meant to come across as mean; just that there's people on here with 30, 50, even 100 SFR's ALWAYS factor 10% for vacancies, evictions, nonpayment.Can your tenants lose their jobs in December & your left with no tenants for 3 months (it's very difficult to compete with Santa these months & if you can find a tenant then, they're probably high risk); can a tenant declare bankruptcy during their tenancy & stay in there & it takes months to get them out?

Once a property is declared "abandoned" according to my state law, I will move their belongings into storage.

(What are your KPI's or key performance indicators)5) What happens if one of you dies, is disabled, has to declare bankruptcy, commits a felony, gets married?