We're in a part of CA where the weather is pretty much always good enough to be outdoors, and it only rains a few days out of the year.

FYI Hard money lenders can get you the cash fast if it is a good enough deal. 

Yes I am aware of that - there is no perfect PM, only looking for good enough :) 

I can do 20% but of course would rather do 10Correct, hard money lenders mostly care about your capital contribution, capital for payments and holding costs and the asset itself more than they do about credit but credit does come into play as far as their assessment of risk.I have heard of a few HML’s here in CA willing to do 90% funding plus rehab as well but I’m sure it is costly, I’m sure they want to see at least decent credit, and they absolutely would need to see a good enough deal with enough spread for protection of their loan funds. 

That's long term, though -- for now, finding a single good deal on a cash flowing property is good enough for me.  

But if you get a good enough deal, you could still "BRRRR out" with a traditional bank loan once the property has been rehabbed and rented.

For me 1% to 1.5% is good enough.

Keep in mind, I have not basis for this, but if the price was good enough, I wouldn't be held back from buying.

So for all the legal and insurance people out there, is this paragraph good enough to protect my interests or should I still be requiring renter's insurance?

The seller and all involved actually still gain because the short sale is now approved at a specific price and if that price was a good enough deal for one buyer, surely teh agents can quickly find another on a short sale that is now "Bank Approved".