It goes without saying that the recent and ongoing disasters in California are some of the most devastating and destructive in recent memory.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

Los Angeles County continues to grapple with devastating wildfires that have claimed five lives, destroyed over 2,000 structures and forced the evacuation of at least 130,000 residents.

As important as due diligence, analysis, knowledge of the property type, track record of the syndicator, correctly predicting economic trends, and timing is, the number 1 way to avoid a devastating loss is NEVER INVEST MORE THAN 10% OF YOUR INVESTABLE ASSETS IN ANY ONE DEAL.  

Of course, SWFL got a large brunt of it, and the islands look pretty devastated. 

I’ve seen this happen to people and it’s devastating.

I don't want to work all my life, and have nothing to show for it other than dying with a bigger bank account than most people.Having a modest level of financial independence provides, perhaps, the least amount of clarity compared to either having non at all or being super wealthy. 

The biggest devastating factor I would say is tornados. 

Quote from @Mary Jay: Quote from @Jay Hurst: Quote from @Mary Jay: hi guys,so I have a lot of equity in one of my rentals but the interest rates are super low on it. so I dont want to do a cash out refinance on it because I dont want to lose the 3% interest rate on it.I want to get some cash out of it via Heloc or another vehicle,  so I could buy another rental, but its not my primary, so I cant get a HELOC on it from lots of banks....I think PenFed does helocs on rentals, but because I have more than 5 rentals, I dont qualify for their HELOC loan.IS there a bank that would give a HELOC/cash on a rental?

Since you are not doing super high end finishes as mentioned, doing high end flooring and all other stuff just above builder grade does not warrant tile or full wood flooring.