Of course they were burned and some damage done in the kitchen.

I am still waiting to see if a duplex burns down does it get rebuilt to sfh and then re-convert to dueplex or will it be rebuilt to duplex status ???????

If the whole thing burns to the ground and I’m left with just an empty lot, I wouldn’t necessarily care to rebuild, I could just take cash value and walk away without a loss.

I got burned in 2005 when I bought at the height of the market so I would love for the shoe to drop and prices to fall.

Its way easy to burn through 30K.

Think of prices now vs 5-7 years ago.I like Dave Ramsey, too, but long-term fixed residential mortgages aren't what burned him. 

We got burned once, so now we use the holding deposit. 

The first time I flew out to Cleveland I had cash in hand (actually the bank) and was ready to deal.... silly me.... thinking I would be taken seriously out there.... apparently too many agents have been burned by tire kickers from out of state that are “cash buyers” that end up doing nothing.  

@Mario Morales One thing also to consider as I have been burned on it, if you are not going to get permits and keep glass block windows CHA or HACC will not consider it a bedroom without having ventilation. 

Ummm, these "download" suggestions are nice and cheap and all, but you want a free contract that is enforceable.Join a rental owners association with attys on hire that continuously review leases in light of the current law.Use a 5-year-old free one and odds are you'll get a tenant atty that'll burn you.TLDR - Don't cheap out on real estate, cheap is the most expensive path usually.