I decided to cut the advertised rent to fire up interest.

The owner had stopped making payments before the fire, and now it's bank owned.

I was told by a friend (who just heard this second hand) that homeowners insurance was pretty outrageous because of something to do with bark beetle and fire risk.

Otherwise, spend the $400 to get one installed so you'll not have to worry about it for a long time.Basement - don't forget unless the basement has an exit other than the stairs, it can't be a bedroom space per fire code.I'd still install a sump pump even with the drain.

For example, if you have a fire alarm system on a 3 unit property that runs off of one tenants electrical you must informthat tenant of such and then the landlord is covered and it can be "factored into rent".

I actually came across an investor that only buys fire damaged properties.

Fire away!

You could always "fire" your current agent at any time but that agent would have rights to a commission on any properties that she showed to you.

I recently bought a lot from the county office that have a house which was damaged in the fire.

I'm personally working a short sale with the rehabbing instructor and have a contract on a fire damaged REO.