(Insurance, Loans, Zoning, STR, ADU's, ??

Being in the construction industry should help you on your REI journey.

With a private auction of an already foreclosed property, you will usually be allowed as part of the closing to have a title search done and to buy title insurance.

Hi Stephen, I would suggest reading as much as you can and connecting with people in the industry.

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

I just wanted a general industry over view of markup. 

When you move forward, they should provide proof and name you additional insured.

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

As far as the insurance claims, I've had many. 

In Philadelphia the fundamentals are strong: leading industries/employers are in the Education and Medical fields which are known to be stable, proximity to NYC and DC, national airport, port city, affordability compared to mid-atlantic predecessors.