However, terms are negotiated specific to each project. 

Does anyone have personal experience with specific scrutiny of a logbook during an audit?

Taxpayers should be aware of the criteria for this specific scenario.

Putting people in a position where they would need to sell or come up with an alternative strategy to pay off the mortgage balance prior to rebuilding. 

Real estate transactions, especially flips, come with specific tax implications such as the potential for dealer classification, short-term capital gains, and cost allocation for renovations, which can significantly impact your tax liability.

So to answer the question specifically no I would not buy a property that did not cash flow and only for tax basis.

As echoed by many, the Midwest, specifically Milwaukee continues to be a strong market for cash flow.  

Specifically, I’d appreciate:•Wholesale contracts: Recommendations for templates or tips on using contracts effectively with sellers and buyers.

Maybe pay a financial advisor for an hour of his time first in case there is an alternative that you have not seen yet?

And are there any specific permitting issues popping up post-storm?