It wasn’t until I made a profit that it was an issue.

I had a few issues: many providers did not have umbrella for CA residents, some providers did not cover CA RE, one (my existing) did not cover CA vehicles, some only would provide coverage if they had the standard property insurance (I did not want to change all my insurance), virtually all (including the one I went with) would not cover me at the coverage I desired (I was looking for $10m policy). 

This is a "hire someone" but getting someone to look at it before we need to put in an offer is tough in the local market and the contractor we usually use is unavailable do to family issues for the next two weeks.  2) Will it matter which direction the new stairs would run up the second floor in regards to the direction the joists run? 

He is now selling the property and the new buyer says she cannot find an insurance company that will issue her a policy because it doesn't have central heat/air.

Your quotes should address these issues if they are present.Good Luck!

My guess is he has other things going on and having mental health issues. 

If one is a CAT 5 and hits lower Florida at high tide with 20ft+ storm surge goes into the Gulf restrenghthens and hits somewhere from Florida to Texas again at high tide with a Katrina size storm surge of 28ft it is an issue.

The sponsors issued a capital call to the tune of 20% of the original equity.

I believe the biggest issue is it's not profitable for developers to build medium tier priced rentals so instead they are focused on the high end which gets the highest rents per a sq ft, I do not see the rental supply side changing. 

Include a contingency budget for unexpected issues.