I would not wait for something bad to happen.

I have seen too many partnerships go bad (almost all, just a matter when), that's why in 15 years I have never partnered.

There was one guy a Dr.

I clearly stated multiple times i don’t have much STR experience like you guys but I know how the industry works. 

Quote from @Joel Oh: Hey guys, I know this will be very controversial. 

yea the METH is really bad in Haysville

Not a bad return from appreciation alone. 

And lets say you then rehab it only to find out there is bad title and you make a title claim.. if there is no loan on it your only going to get 50k from title insurance and you will lose the 50k you paid for the assignment and any money you put into rehab. 

After assessor comes out and consults with insurance company, they'll send demo guys out to come do demo work and remove wet drywall, insulation, etc. they'll usually put down dehumidifiers and let the place air out a bit to see what actually needs replacing and what was able to dry out.

Quote from @Rafael Valdor: I hear horror stories about renters all the time, but that doesn't mean all renters are bad.