There are two mortgages on the house, by law he can not collect any insurance proceeds due to his convicted crime.

Usually the more money a transaction legitimately requires the more sophistication the parties to the transaction have.

They are highly educated sophisticated people and they come in here all the time with their two diligence teams, attorneys and CPAs before they buy our projects.

He would be using money collected in a 1031 exchange.

It's a collection of the best flipping info from the site.Oh - and don't forget to set up your Keyword Alerts!

I also want to preserve what little relationship there is in the interest of having a paying tenant.Can I collect this $148 from his security deposit when he moves out?

Even the least sophisticated observer of this place would have guessed that nearly 0% of the wood could be retained.

Meaning could this wholesaler have the property under contract for 5k, being looking to sell it for 9.9k, plus collect a 5k assignment fee?

You would essentially be paying for a no deductible policy but 2x the overhead, admin, profit, reserves, etc. that the policy writing company collects on top of what they need to pay claims.Hope that helps a bit.

First buy the most inclusive insurance possible, make call to police telling them that you are living in "your address" and you are reporting "insert local drug dealer name" for drug dealing at "location".....await firebombing from local dealers, squatter runs for his life, collect insurance.