This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.

What made you interested in investing in this type of deal?

I happen to live in AZ in the winter and MI in the summer. 

Let’s be real: Not every deal is going to close. 

I’m looking to buy land in Tennessee, but I live in New York and know nothing about what neighborhoods in Tennessee to look at and which to stay away from.

Is that the case for the syndication deals being referred to earlier in this discussion? 

In doing this, I've signed up for some free conference calls and webinars.

Alicia,Generally, I would be concerned about a policy that is not in the name of the Property owner.  

Its actually really common in my mind for real estate failures especially like these deals were you dont really have access to your money..

You're definitely in the right place.