I didn't know what to do with it and hope to get some advice here.What it is:Well, a lot located in one of the more low key beach towns in SoCal is being sold and there is currently an auto body shop tenant on the lot.

Some things to look for:  Outdated electrical panels Federal Pacific brand "Stab-Lok" or Sylvania (re-branded Zinsco) brand panelsHVAC and other mechanicals past their useable life (15yrs)Water Damage under sinks, around tubs, toilets and door flashings.

So many options to choose from, unfortunately your Allstate agent does not have access to them.If you want to look into options, do not contact other Home and Auto companies like Allstate, but rather Independent Insurance agents who represent multiple insurance carriers specializing in the REI space.I'll drop you a PM with some company names. 

It also auto saves to the cloud so you won't lose any data.  

Business Auto coverageI would also strongly recommend getting a Attorney who is experienced in the area of Real Estate contracts. 

Auto loans are cheap so to me if it gets you into a solid investment it is worth it.

I am a Mechanical Engineer that has been out of school for almost two years now and am ready to dive into the world of real estate investing.

Insurance company will NOT help remove autos.

For example, you require they pay you via wire transfer on the 27th of every month, they are probably going to be frustrated.Especially when their sister is one of our tenants and can pay online via direct deposit for no cost on auto-withdraw every month.Make it easy to do business with you.Another example: be respectful of their privacy.

So before you bank on a home warranty instead of cap-ex savings, I would check to see what all systems and structures they cover (you need to plan for fences, roofs, mechanicals, etc).