Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

Also, if you permit the tenant to contact your contractor directly you might be surprised what they consider an emergency...extra shutoff valves never hurt and only cost $5-$10 each!

You may also want to consider an environmental test to make sure there's no rusted, buried drums of chemicals hiding somewhere.

I think a connection is needed for slickers like me to even consider an area like that.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

@Katrina Kubicina You might consider an SBA loan. 

I fixed that issue, but question what will you consider an 8% COC return?

What one investor may consider an inadequate return might be good for you, and vice versa.  

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

You definitely want to consider an overall softening economy but for many reasons i believe this market is a little more shielded from a declining economy than let’s say Orlando or South Florida.