Most criminals defrauded the IRSI wonder what would happen if the people who combined lost like $2M all sent 1099's to him-I bet that would wake up the IRS but not sure if it would impact their claim later on.

If you are in a high fire zone, the California Fair Plan is likely your best bet.

If you’re in that cash position I mentioned above, then we might be a good fit to get on a call so I can show our process which is complete: 1) finding and buying the right property 2) creating a top product from that purchase with a world-class designer on my team 3) co-hosting/managing that property at a discount for clients to ensure you get more money and have a product that lasts.you can also follow me on IG @tampa.rei , I’m actually about to post a walkthrough of a property that was being managed by one of the most popular PMs in the country and in just 1 yr you’ll laugh to see what state the property is in from poor management!

You bet, but not active or pre-foreclosure.

I bet there are some ways you could proactively plan so the problem almost resolves itself. 

I think your thesis is sound in general, but I would want a hedge on my bet.

Quote from @Luis Ramos: As a M.D. and Real Estate investor, I can attest that these poor business decisions come down to amount of schooling we have had.

I imagine you'll have the same issue with the unpermitted kitchenetteIf you can rent the property as a MTR then listing on Furnished Finder will probably be your best bet.

Your best bet would be to hire a good property manager who screens well and knows what they're doing and you should be able to get good income over a few years. 

@Michael Dallas this sounds like it could either be a great deal or a suckers bet, and unfortunately, it's impossible for any of us to tell.