Mild to Moderate water damage from Hurricane Florence

[Abigail Cooper]

Hi BP! Newer investor here who has been doing buy and hold in the last three years with my first question involving repairs. One of my properties was in the path of Hurricane Florence and while it thankfully didn’t appear to sustain major damage, there’s resulting water stain on the ceiling in the bottom floor. This is a three story building. I was alerted last night & got in touch with the HOA, who confirmed that the leak, regardless of where it originates, falls under my responsibility as homeowner. I’m out of state and severely disabled so I can’t check out the damage or repairs in person. I’ve only had minor issues in my first three years so this is the first time I’ve had to do anything that would be more intense than sending out the PM’s handy man. I know my BP fiends & colleagues have a ton of experience so I wanted to ask for some advice on each step of the process so I handle it properly. 1. I know that water damage can cause major issues like rot and mold if not handled properly, especially in a humid climate like this. What steps does my contractor need to take to ensure water damage is properly addressed to avoid future problems, and how do I follow up from out of state to ensure these steps are being implemented? 2. I have a realtor and a PM co I liked and trust and can ask for contractor references. What should I be asking of the contractor to be certain they are insured properly & feel confident they know what they’re doing? What’s the best way to ensure that the price they are charging me is reasonable and how can I hold them to the work/schedule/costs estimated to me? Thanks for all your help BP ~ Abigail Cooper