If the "big one" strikes the coast will be rebuilt by developers under new building codes requiring earthquake related safety measures and prices will still be high. 

This is indeed a legit strategy, but if you don’t put work into it.... then like with everything else.... it can fail...Key is calling these homeowners consistently and following up.As it goes going to auctions and recording how much property sold for, writing it down and chasing homeowner right away....Indeed gives you bigger chance.... of striking a deal and signing owner under contract vs looking only at online lists...Look for probate properties.... and look for foreclosure properties.You don’t need to be super smart to make money in surplus funds, but you will need to know.... how to skip trace deals and send out letters, cold calling people and pivoting them.

By the way I found this property while riding my bike in my neighborhood and striking up a conversation with a guy who was trimming the very out of control trees in front of the property for the owner..

After striking out a bit, I've learned the term is "Builder's Risk."

We may strike out every now and again, we may even set the league record for it.

Strike up a relationship and see if you can learn from them but also work with them at the same time.

They were unable to pull it, so I did some research on and basically found an article that said that they lightning strike caused water and smoke damage.  

As mentioned above sometimes the taxing entity will strike off in their name and then not resell it until the redemption period is over and then if you buy there would be no redemption period.You are correct about not getting straight answers. 

It would be good to strike up a conversation there, and see whether their appetite for investment mortgages has improved since my last drop in. 

The information strikes me of the No money down RE scams of the past.Time, experience and creativity are the tools required to succeed.