Looks like a winner if done right.

Did 5 years in the Marine Corps as a Reconnaissance Man and moved full time into real estate. 100% of my business is helping Active/Vets use the VA loan for investing.With that said, Ken hit a lot on the head.

For those of you in the rest of the country, marinate on what the OP just said.

I did a ton of research a couple of years ago for good insurance companies in CA, and at that time anyway, Farmers was the winner. 

@Matt Clark @Linda Weygant Him and his wife are on the lease jointly, but he's the bread winner so I went after him.  

Winners will receive a quitclaim deed.Once the property forecloses, the previous owner can't get it back.

I am a new investor to the area of real estate, my previous experience has been mainly with 2 SFR that I have purchased and of those two one is my primary residence whilst the other has been sold already.My previous professional experience involves starting up and running a successful insurance firm for 5 years in Wisconsin after which I transition to a more "active" profession by enlisting and deploying with a Marine Corps unit.

This one seems like a winner I just need to do a little more due Diligence.

The problem I see with the strategy you describe is that my one rental in the Bay Area that generates $5,000 in monthly cash has one roof, one hot water heater, one furnace (we generally do not need air conditioning in southern Marin due to our mild weather). 

The winner!