What were the circumstances on something like that? 

Beyond that everyone is different.Are stories and circumstances are super close! 

Bpers, I thought I'd share the results of an afternoon of driving for dollars...1) Located 25 distressed properties2) Various surrounding circumstances and conditions (code violations, foreclosures, "pretty and ugly houses"), etc.3) I have yet to research the properties to determine if investible.

Or what if you had to spend $15,000 for an unforeseen repair?  

I plan on calling the phone number on the sign but want to be more educated about the property and the circumstances surrounding it beforehand which leads me to my questions...How do you research and evaluate foreclosures?

It just depends on the circumstances. 

Account Closed   I wrote an e book specific to this asset class it was for Australians that were getting hammered in the US.. buying very low valued assets.the very low end only works in very specific circumstances.

Is there a limit of the property value or any other circumstances that should make me select an LLC over just the insurance?

There are few circumstances where a contract for deed arrangement makes sense IMO.  

There are circumstances under which these could be faulty, but if it is the whole house that needs them replaced those circumstances are unlikely.