Name can say a lot about the owner.

well if as you say as time goes by a faucet breaks I will buy a new one. if a floating vanity falls apart I will have my carpenter build a new cabinetlife is full of mishaps and surprises.nothing I purchased was so expensive as to render it hard to replace.FyI both places rented it took 7 days to rent both unitsboth tenants seem really cool so far.time will tell

This would decrease your premiums but still allow coverage for, let's say, a $10,000 event or something.  

I go to those events I fund many of the students over the last 15 years.. and like everything for every 400 who run through the program and handful actually do anything with it.in RE sales its a little better those that stick it out 5 years its about 50% failure rate maybe a little higher in bad times.. but I would say a full 20 to 25% will do it for a lifetime..AS you know your a tax sale expert there are so many more ways to make money at this then following the herd about wholesaling..

If you want to buy a house and do nothing to it and sit back and collect rent, then I'd say a market like LA is not for you.  

Let's say a taxi cab commission that's made up of taxi company owners.  

On smaller loans like these the percentage ratio will be so much higher than that of say a 200-300k loan.That said, you could stand to save a few thousand by shopping a mortgage broker that can run your credit once, and shop you against several companies products to find something that fits best.

If it has please come back on this forum and say a few words @-ing the cynics, lolI personally know a man who pursued his dream for almost 15 years and that project has never started.

I don't see that happening as a source action, as a ancillary amplifier effect from a different catalyst like say a Dollar Default, yes, but not standalone action, too easy to keep kicking that can. 

Just give it some thought.Not sure on your finances but I would go larger than smaller, so say a quad instead of a duplex if that is possible for you.I would keep your credit as clean as possible.