We are a Orlando based LTR PM company, but we manage properties throughout Central Florida. 

This helps eliminate the argument from tenants that they are due a deposit back, it is based on their performance of the terms of the lease.

While I haven't personally experienced a tenant causing major fire damage, here are a few thoughts and suggestions based on what I've learned from the BiggerPockets community:First and foremost, I hope everyone is safe and unharmed.

A system that allows me to look at my historical P&L and Cashflow right next to projections. 

I designed a 2 bed 1 bath stacked triplex that fits on a 30' wide lot with 3' side yards and we can build it for $174 a sq ft hard cost. we do them where the land is 10% of after repaired asset value which in our market is 50k approx. we study multifamily trends and stay with it.

You would really need to stick the landing if this risky tactic were to be implemented.

A great place to learn more about WA real estate investing and finding deals and connections is our local REIA - https://www.reapsweb.com and checking out some of our Zoom meetings if you can.There's some great pages on Facebook that you can find deals from other investors, and if you're looking for turnkey there's always the MLS (Zillow, Redfin, etc will get you access to those).If you want a specific search setup, reach out and I can get that started based on the criteria you're looking for too.As someone that moved up from CA a few years ago, I was curious why you're looking at WA instead of other long-distance locations?

(When I was in my 20's - I am now 77 years old, I did a ton of equity based foreclosures.) 6. offer to partner with the sale and liquidation of the property for a fee or equity position.Understand that as a foreclosure buyer - you need to first try to solve the owners problem  by giving suggestions to him - how can you help him, what suggestions can you give that will help him out.

You also will see it when a home has not had many sales in 20-30 years and since it was purchased for $65,600.00 back in 1990 it took a huge increase in sale price of $275K based on 2024 sale price.

This is not specific legal advice, just my opinion based on estate planning/asset protection background.