Second year distributions rise to 5.27%, third year 7.27%, according to the projections.Those projections may be at risk, for many reasons: the recent huge increase in interest rates -- increasing the cost of loans and decreasing valuations, insurance costs have skyrocketed, real estate taxes are up, labor and material costs for repairs & renovations have increased, etc.On the plus side, the majority of the ODC funds were designed to be high value add projects with plans to increase operating efficiencies, add tenants and raise rents.  

Higher-cost markets can still work with appreciation, rent growth, and creative financing.Best next steps?

What would it have cost you if they demanded 2-3 days at a property with a working roof during the repair?

Ultimately, it’s essential to consult with your lender to understand what’s best for your long-term goals and costs involved.

Then you add the compounding effect of hurricane Dorian and it was crickets.

That's pretty low for a 3-BR - I'm seeing the FMR for a 3BR in that zip code is $1,850.But at $1,300 for rent, you'll probably find HMLs that may lend you around $120k if you have a good credit score in my opinion, which means you'll need $45k + closing costs.

Over time, we have developed systems to handle these situations as effectively as possible.

My budget for the first property is $50k ~ $100k total cost (including rehab).

It costs roughly $100/mo but is well worth the expense.  

There will be a huge gap between coverages and replacement costs. - Renters are majority uninsured. - In September 2024 the FAIR Plan had $6B in exposure to the Palisades alone.