I have little-to-no cash reserve...student loans, daughter in private school, and a long work commute (gas $$) have a lot to do with that.

Then about 2 years later they started getting behind on our mortgage, then we found out they were behind in the first mortgage as well...long story short, we had to foreclose on the note we held and pay the first to keep them from foreclosing a senior lien first...the day of the sale at auction, we were served with a notice that they had filed for bankruptcy, which stayed the sale and the auction was voided.After getting an education in foreclosure, I now had to learn about bankruptcy.Since we were now living in another state, we had an attorney handling it all - I was never comfortable leaving things to other people, especially when we had a lot to lose.

I bought and gut rehabbed 1 townhouse and renovated 1 single family house to date, and purchased a vacant lot to build my first new single family house.

@Nicholas Armstrong I think I'm going to start out doing live-in-flips I been working for my dad remolding business since I was a kid so I know how to do most all remolds but I will only be looking for ones with minor or cosmetic problems nothing major like needing new roof or plumbing systems.

However, if you adopt the practice I have described herein, you 1) reduce the odds because you remove any grounds they may have, (deadbeats know the system, believe me) and 2) if you do end up in court, you have a paper trail that demonstrates you complied with the lease, addressed any concern they had in a timely fashion to the extent the lease obligated you, and that they were fully satisfied with everything you did.  

We install a french drainage system all around the house and get talked into raising the concrete in the house by about 5 inches.

MODOT had cut a fiber optic cable and all of the bank's systems were down.

Hey Christopher,I'm not an insurance broker, but usually they need the following for rental property:Year BuiltSquare FootageBeds/BathsRoof, HVAC, plumbing, and electrical system age (if you know it)Type of construction and exterior claddingBasement (finished or unfinished) and square footage valuesSome companies require picturesI hope this helps.

Its structure, plumbing, electric systems are sound.

Any opinion on those that sell mentorship and systems that you plug into in exchange for a percentage of profits.