@Ilya PolyakovIf you want to know when the market will have its next major decline, follow the medical industry.

That's what a paid service or a doggie day care facility are for.Out of curiosity, what kind of damages is he talking about? 

Oregon had laws restricting the building of certain government facilities like fire stations, schools, ect in tsunami zones.

People will always need food, clothing, shelter, education, medical and dental care.

This covers for rental issues(tenant not paying, vacancy, repairs etc...) but also covers my personal life as well(needing a new car, losing a job, repairs on my house, medical bills etc...)

@Luke Gates: I’m a public school teacher, so I’d like to capitalize on any special mortgage rates for teachers Law enforcement officers, pre-Kindergarten through 12th grade teachers, firefighters and emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program.

I have a motivated seller that owes $220K in a area where homes sale for $110 max, the house just entered pre-foreclosure.Her husband put a 2nd mortgage on the property to help with medical bills and passed away shortly there after.

@Vanesa Gonzalez - a $1M/$2M General Liability policy, with some form of a medical payment coverage provision, is somewhat a standard insurance policy for most businesses, and generally fairly inexpensive.

Facilities like a daycare will have requirements different than a home office even though they both are authorized uses for "R."

So, the owner would continue to live in the house until passing or medically retreats to a nursing home care.At this point I am proceeding to view the property and collect documents for tax/mortgage/title/bills/insurance/permits etc… and start running the numbers.