The flooding has occurred as a result of two heavy rain storms. 

I’m Leaning toward the helo because I can get  fixed rate for up to 60% LTV for 20 years and keep the 3% primary loan as a safeguard against falling rents, if that ever occurs. 

So this just occurred a few weeks ago.The area, is ok, good schools.

@Tanner Ploe the Texas Real Center (located HERE) is an incredible resource of information and they have very specific studies that in the past 40 years that 90% of the population growth in Texas has occurred within 50 miles of I-35. 

With new announcement from major corporate players occurring almost monthly, I anticipate this growth to continue at least through 2019.

The recession occurred during late 2008 and early 2010's.

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves: Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

Requiring renters insurance protects you from expensive renter accidents, injuries that occur on your rental property, and costly lawsuits that can easily pop up in the landlord business.

Unfortunately you can expect this type of tenant 'sucker punch' to occur: it's part of the business.  

I'm wondering how do you deal with sudden changes that can occur if people don't respect the contract?