Naturally other people don't want to risk their money with someone inexperienced, so they'll want to see your track record as well. 

A basement may be used for habitable rooms or a dwelling unit, regardless of the depth of the floor below grade, if the floors and walls are impervious to leakage of underground and surface water and are protected from dampness, and if the required minimum 13-172-130, or by other approved means. 13-172-070 Natural light.

Naturally making me nervous.

Either through a natural disaster, tenant caused, or wear and tear?

Houses were just a natural outreach for me, I guess.

Generally, the nature of income as active or passive does not change depending on how you own it but how you create it.

Have any of you experienced similar unexpected or unexplained expenses of this nature? 

We've currently got, which I can imagine most others do, the mechanical timer where the lights will come on at a certain time and off at a certain time.What we'd love to do is have essentially is a timer that measures natural light and comes on and off when there is low light.

The real estate development side of the house is very complex that involves a lot of legal and procedural steps to make it happen.

On the other hand, experiencing a natural disaster can be very damaging and an insurance policy can save the day...but does it really?