When they lose or break something they are responsible for the cost.

Is anyone familiar with the cost of getting such land buildable? 

(Imagine if they decided to reclassify their rooms as STR to lower their costs.)

Let her go, get the place treated so it is 100% roach-free, and then find a new renter.At the same time, I would have an attorney draw up a letter hammering the HOA for not stopping the roach problem because it is costing you money to continue treating and you are losing rent income.

For my OOS rentals, they're either in places where I used to live, or where I have family... not random markets I picked solely because the median price is low and the made up cash flow based on rosy assumptions is high

If you have to change a water heater, which now costs around $2000 in Colorado Springs, that is a large unexpected expense that the owner has to pay for.

Those numbers would be ok, but do you have money for the downpayment, closing costs, capital expenditures, 15k for reserves?

HI Dean,You can always start off by house hacking meaning you live in one UNIT or ROOM and renting out the other vacant units/rooms to offset your monthly mortgage payment.There are several ways to run and make sure you are maximizing your rental income while keeping your living expense as low as possible.

Normally, if the policy values the loss on Replacement Cost, they will initially pay the loss at the Depreciated value, once the damaged area is rebuilt, then they pay the additional amount (up to the limit on the policy).   

I was concerned that the houses don't meet the 1% rule but with older houses, you're losing in more repair costs.