I have found infestations by observing only a quarter inch mud tube (all that was visible at that house).Now my advice: Make any purchase contingent on a wood destroying insect inspection and hire a professional and accompany him/her during the inspection.

What is the best way to mitigate a washer/dryer leak destroying your rental?

Longer version: This house is in New Orleans - bought a destroyed property after Katrina and rehabbed.

You will see times where trees that hang over a new roof destroy it quickly, or make it covered in moss, shortening the life.

I have never heard of that but if it is fairly common in your neck of the woods Im sure that definitely made you more comfortable.My concern would be that something could possibly happen to the home during renovation (fire, tornado, etc.) that would destroy the property and you would not be the named insured on the policy.

Then I had a tenant who destroyed my hardwood floors.

What about potential liability for tenants' personal belongings that are destroyed in the fire if the tenant does not have tenant's insurance?

Its not like Enron where the value can go to zero..Unless you buy a home next to a gas station and the leak on your property totally destroys the value of your asset.

I'm here to play nice make contacts and learn from the community.don't be a cowboy and play it safe - moving too fast is what destroyed many investors years prior - personally I'm a huge advocate of buy and hold.

I can make those decisions with an email or access to the following information.The address of the housePictures of the following Kitchen Bathroom(s) (tub, vanity and floor) Roof (reasonably closeup) Front View Rear View Furnace AC Hot water tank Window, typical of the majority in the house Garage door Fireplace Driveway/Sidewalk Garage if free standing Main electric panel Anything wierd, or destroyed that is not on this listSome rehabbers may want comps, I run my own.