(This step may need to come earlier or later, but this is a vital one and has to be done at some point before 12 obviously)12.

You shouldn't have a problem insuring it if the property is habitable. 

@Justin Thiesse  those work very well in the right spot and if you can build them efficiently. in some areas and I don't know yours.. but some developers went high end on the storage.kind of like building airplane hangers ( the best rental ever LOL)they built high end for those that have expesnive car habit want a shop to tinker.. need to park their million dollar motor home.. want to build a man cave away from the house..you should see what some folks do to their aircraft hangers.. there should be a reality show on that some pretty awesome ones I have been in.. our is just a hanger..

I have looked at a particular property selling for 62K, with a lot of rehabs pending in order to become habitable. 

I wouldn’t expect the tenants to pay rent while the home isn’t in a habitable condition. 

It would be nice to share ideas.A few more specifics: - I’m interested in single-family or small multi-family dwellings in A or B zones- The closer to the West Coast the better, but that said, I’d be willing to go all the way to Nova Scotia if that’s where the math works best...ideally I’d like to follow the one percent rule - Random detail: I’m actually a poet looking to support my writing habit through sound investing.

In principle, I agree people should pay for use of water they use as it promotes conservation of a vital resource.

There is work involved to get it to a habitable condition.What price should I start with to offer the bank?

The house is no longer habitable due to the sewer gas (probably). 

I know a family friend who has a bad habit of hiring friends who happen to also be "professionals" within their trade.