Statistically, I would bet that many of these properties could be at risk from a similar event before the reconstruction could even be completed.What is the new premium on a $5-10-20M insurance policy and how could it ever be recuperated during the life of the policy or length of the average 30 year loan? 

You need to up your standards or life as a Landlord will be very difficult.One violation and I would evict.

The real life experience is the best option for learning and gaining the knowledge you need. 

Take the time to really understand the neighborhoods.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.

Check out the Life Planner by Lucky Life Tools.  

They always seemed to have the answer for all of my problems in both the flipping world and over time, in my personal life.

.- Son to have RE license and path to life he desires.