I do not have an answer but for the expert that answers the first question.How do you insure against a catastrophic loss such a forest fire? 

They are carrying insurance on the property with myself listed as the beneficiary for the full amount due in the event something catastrophic happened.This investor is experience from everything we’ve talked about and this investor does dozens of deals every year.

I still handle catastrophe claims occassionally.

Phoenix was definitely ONE of the leaders in overvaluation and into the catastrophic loss in home prices and equity.

I have a mobile office that I set up in my truck when I handle catastrophe insurance claims.

But $5k doesn't go very far in the case of a catastrophic event.

Our insurance policy is basically a catastrophe policy covering fire/wind to the building so it doesn't cover it.

Before you do anything, save up enough reserves to cover 6-9 months of living expenses should something catastrophic happen.

As many of us transition from full time employees to full time Realtors and or Investors, we gain freedom, flexibility, and financial security, we tend to also give up healthcare, disability, life insurance, retirement, etc....A good insurance agent can help you protect yourself and assets against sudden loss if you find yourself facing a catastrophic health crises, accident, or even the death of a business partner.

What if you are at fault in a catastrophic accident and lose a judgment for a huge amount.