I need to check if the “Replacement” cost covers clean up also.

The current property owners take a settlement check from insurance, and vs rebuild they sell.

Quote from @Theodore Sutton: Check out the site meetup.com and also the events page on BP for meetings up in your area to meet people like this and build relationships.

When vetting contractors, check if they’re licensed and insured, ask for at least 3 references and call them, and get detailed written estimates and timelines.

Similar to the comments above on using FurnishedFinder, also check Airbnb and sort for 30+ day rental options. in addition, I'd recommend talking to the local university and hospitals nearby by calling to their various departments.

Also, check out Eng Taing at Touzi .

It's a balance of cashflow and wealth accumulation.One of the goals is to have tenants pay as much of your cost-of-ownership as possible (loans, taxes, insurance, etc.)In high-cost areas, any Class A or B property you buy will usually negative cashflow for the first 3-5 years, until rents rise enough to cover the negative cashflow + rising taxes & insurance.Investing OOS increases your risks because you may not know the market and you can't check on everything/everyone all the time.If you move forward with your buddies, HIGHLY recommend creating a solid Partnership Agreement!

Finally, double-check local demand and rent trends in the area to ensure the pro forma income is achievable.I’ve worked on several mobile home park deals as a broker and am currently helping a few clients sell their parks, so I know how important it is to ensure the numbers make sense both now and in the long term.

Check "flexible" dates for a house with a pool to weed out the condos with shared pools.

If you decide to invest I would encourage you to check out North Carolina.