I caught another podcast one day that featured Charles Roberts, I really enjoyed it and Charles recommended "Set For Life" and oh WOW!!!!!!

If too many tenants cannot pay rent due to market conditions (ie. 2008-2010 high unemployment), how do you pay the series of mortgages. 

I think the majority are people living on the edge, spending more than they should, spending their money carelessly and refusing to prepare for the calamities of life. 

Condition of existing structure was irrelevant. 

The cheapest duplex, in a good area, in good conditions cost 480k.

It would take probably $50k-80k to get the home to a condition that it may sell in the high $300's - maybe - not at all worth that high of risk in my opinion. 

What type of insurance should I buy under this condition?

@Joshua Nobles Don't look at this relationship as life long, you need to find the best one but don't expect it to last forever. 

I had read somewhere that you can roll lawyer costs (title, etc) into basis cost as well as origination fee and deduct for life of the loan.

REI is like anything else in life IMO there are no magic pills & no shortcuts there is success to be had and wealth to be built but it typically doesn't happen overnight and isn't sold at a conference or on an infomercial for $99.95.