If the buyer is losing money on his investment, and walks away without gain, then by definition there is no “equity skimming”.  

I am similar to @Benjamin Jones just getting started and looking how to set things up? 

So I'm a fan of buying in the path of progress from here since it's starting to expand outwards into cheaper neighborhoods.

Nobody plans to lose their property.

I feel sorry for the people losing everything in the fires , insurance will go up .But I wish I was the guy  driving this bulldozer ;t=162s

Here is one recommendation as you begin your REI journey.Make sure to have your team around you before you start, or as Brandon Turner from the BP podcast calls it, your CORE4. 

Start by giving them notice of what they are violating and then if it isn't remedied, start the eviction process. 

Builder's Risk and General Liability should be a great starting point.

:)General question here: I invest in long term rentals in Memphis, but I live out-of-state in NYC, so I was wondering if anyone had any general advice about starting an LLC in my situation.Would you form the LLC in Tennessee or would you recommend forming the LLC elsewhere?

Seth Sounds like a great way to get started, Seth!