Also, the cash flow of the paying notes will provide enough cushion to allow me to survive almost any crash.6 - Finally, I have about 10% of my portfolio allocated for investment in high(er) risk property investments - and while there’s no telling how I’ll do on this, in the past I have been able to purchase some volatile assets at very low prices and end up doing pretty well.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is expected to be higher, you may consider an umbrella insurance policy.

They charge exorbitant fees above the rate you get as the owner and they list on third party sites at rates way above what they pay you.

Rental property income to pay primary residence mortgage.

I've  been Investing in RE for over 35yrs and have legally not payed a dime in taxes and have been audited 7Xs by the IRS...and am undefeated...willing to Share my knowledge....

I am not sure if I should pay off my mortgage of $270,000 at 6.5% or should I do a 1031 exchange and invest in a rental property. 

High paying local jobs.Monthly cash flow: $306 /moIncome:  $2,250 /moExpenses:  $1,943 /moCoC ROI: 2.69%5-year annualized return 4.91%   Mortgage payment $1,394.53Rental income: $2,250/mo Expenses: $1,943Loan detailsTotal cash needed $136,739Purchase price$ 336,990Loan amount $206,990Loan term 30 yearsInterest rate 7.1%Monthly expense breakdownTotal expenses $1,943Mortgage $1,395Taxes $280Insurance $47Variable expenses  $180Fixed expenses $42Monthly Fixed expenses: $42 electricity $0gas $0water & sewer $0hoa fees $42garbage$ 0Other$ 0Monthly Variable expenses $180Vacancy $180Maintenance $0 (new construction)CapEx $0 (new construction)Management fees $0 (self manage)ReturnsNOI$ 20,412CoC ROI 2.69%Pro forma cap 6.06%Purchase cap 6.06% 

I don't want them collecting rent and then driving both checks to the credit union to pay. 

Price materials and labor cost will depend on how large of scope of work but a good company is going to be around 3500 a week plus cost of over head we also pay 30% tax on our income also like you guys but if you anticipate 4 week rehab well be ready for minimum of 14k in labor +14knis low end in my opinion... now I'm currently eating my lunch on a rehab from hell but it's gonna be a work of art from where it came from... this was the worst of the worst in my career water damage to all structural raised the roof on a horrible addition and did it correctly. 

A side benefit is that the applicant pays Zillow not you for the application fee and their application can be reused for 30 days to submit to other landlords.