Personally, it's a means for some near-term tax-free (or reduced) cash-flow, in 15 years it will easily pay for my kids college, and be an income replacement in retirement or allow early retirement.  

Good morning @David DachteraI am confident in the $250k number as it was given to me by a local realtor who farmed the area who believes that I could hit that number easily going into the summer months and $300,000 by 2018.

Anything relevant to my hobbies and can easily flip.  

I would rather take 10 years to reach our goals and enjoy ourselves along the way than get to our goals in 8 years.Here's how serious the wreck was that could have easily been the end of me...

Tenants Love: Often times, one of the biggest things that is easily overlooked when you start off in the real estate business, rather you are flipping your property or renting it out until the market turns around it your tenants.

You can easily be sued and violate laws in CA by attempting this strategy without the proper guidance and contracts.4) Not necessary, but always an option.

It could be what you want to do is consistent with their plans and can be done easily.

Useless info: the smell is from an added chemical usually mercaptan because it is very easily detectable by smell in very small amounts.

Most claims aren't total losses, so if the house is in a depresssed market and sells for say $40k and has a fire in the kitchen...could easily be $20k in (retail) repairs and they're getting premiums on $40k, the math doesn't work like it normally would. 

I could pretty easily have a team of rehabbed for the construction.I'm also fortunate to know a couple of really good real estate brokers for the disposition.