At this point, you are basically cheating FIRE, but if something catastrophic happens you start over, so we move on to;2.

(iii) Emergency Leasing Approval In addition to the foregoing leasing rights, the Board of Directors of the Association shall also have the authority to issue, in its sole discretion, emergency approvals for the lease of a Lot (an “Emergency Leasing Approval”) due to situations arising from death or catastrophic illness, job transfers or other extraordinary or emergency situations that would reasoning Approval.

You can buy more properties which spreads riskThis increases your cash flow to help with repairsWith more properties, if one is vacant, it is less of a hit to your cash flowIt spreads the risk of a major catastrophe like a tornado taking out your businessIf you find you need cash, you can sell one property off rather than 100% of your properties offWith a 75% LTV your depreciation is more likely to offset all of your cash flow so you pay ZERO in income tax. 

I believe it tends to give me a slightly lower return, because the sponsor is going to be more careful, and if there is a severe downturn will prevent me from taking catastrophic losses.

I also have a very healthy credit card and solid income that can back me up if a catastrophe hit and I have to expend my entire reserve.Sit down and crunch the numbers.

As far as increasing your risk, yes leverage will increase your risk but I believe it can be done in such a way as to maximize your returns without opening yourself up for a major catastrophe at the next market downturn.

I think the carriers that have something that will address serious settling issues refer to the coverage as catastrophic event coverage.Are you seeing actual signs of settlement such as cracks around door and window frames, offset concrete block at a foundation etc, or are you just wanting the coverage for peace of mind?

By setting a realistic remodel budget, socking some of it away for little catastrophes, and planning and monitoring your renovation carefully, you’re looking to come out ahead in the end.

It'd be great to find something where we could add a bit of value and optimize management/profitability, but on the same token, I'd rather stay on the more conservative side to avoid catastrophe on deal #1. 

I basically have to be present in case of a catastrophic failure.I have access to the internet and have hours upon hours to kill.