My guess is that when you have $500 tenants in a market that is not very tight, you are going to have a lot more evictions and problems and really need to rely on the eviction process vs. a tight market with $1,500 tenants with big security deposits who need a reference from their landlord to move to another place.There are turnkey guys on here that setup their clients in Class C or D properties that they call Class B and then they have an eviction after the tenant has destroyed the place and they say to their client, well at least you were smart to invest with us here in XX State where we have landlord friendly laws instead of CA where this eviction would take another 3-4 weeks.

Chances are, by the time the city has their input into the design, there wont be a piece of flammable material with in a 100'.

Was the entire house destroyed?  

What happens when a pet destroys a wall? 

Best case scenario, you are renting to other students (who you screen to feel secure that they won't throw a wild party and destroy the property) and you don't have to do much...

I just finished my 3rd live and flip (staying for two years) and am currently looking for my next opportunity which will be a flip I wont live in.  

Anything else will destroy the siding.  

Overall we had made up for the expense in other ways.Also, a lot of the large companies wont insure down here.

If thats the case I wont be able to pull anything out initially :/ Maybe I will look into a portfolio lender once we reach that point.

if i put electric baseboard heating all over the house (think 6-8 units) i wont have complete control over the electric because baseboards have thermostats on the individual baseboard, giving the tenant the option to run on high 24/7.