My rentals have policies that have one premium for "Fire and Lightning" then another for "Sudden and accidental damage from smoke, windstorm, hurricane, hail, explosion aircraft and vehicles, riot and civil commotion."

@Kyle Sutton,With the way phone numbers have gone since the cellphone explosion and telco breakups, area codes aren't very meaningful anymore as a locator.Even landlines in Puerto Rico can, for example, have a "Seattle" area code.I wouldn't be too concerned.

Danger, Danger Will Robinson" (the robot used to say that on Lost in Space.)Taking a foreclosure Subject To is a very advanced technique with lots of pitfalls in a state like California.

As previously stated, many of these PM Agreements have an indemnity provision and from the consumer viewpoint, they're very dangerous.

Do not invest in any city on Neighborhood Scouts’ list of the 100 most dangerous US cities.Inflation compensating - Every time you go to the store, the same basket of goods costs more and more dollars.

And that regret is dangerous because it induces sunk cost bias. 

For instance, I've seen many older homes that have beautifully newly-finished basements...but, get behind that new drywall, and there's old galvanized steel plumbing with maybe 3 years of service life left, outdated and dangerous knob & tube electrical, asbestos, structural integrity problems, or any number of other issues...the end result?

It has not been popular in the last 5 years as the market was super hot, but throughout the years before there were plenty of times that seller financing keep deals moving and many people, both buyer and sellers benefited.The danger is that if the buyer does not take care of the home and depreciates it through abuse and neglect and walks away it is like having a bad tenant with little realistic recourse.

I hate to be the bearer of bad news, but you are treading in very dangerous waters. 

If you know how to do the work, then it is simply a function of your time.If not, don't forget this stuff is often dangerous, and not everyone is cut out to do it.