Yes, I’ve used interest only mortgage when a great beachside house I had under contract was hit by hail before closing.

Sticking points to consider: the higher property tax rate for being an investment property and insurance costs (wind, hail and flood) are the two most significant expenses we are seeing right now depending on if you go SFH or the condo route. 

We recently got charged by our HOA for roof repair from hail damage and it was $14,416.

Three days later there was a hail storm that caused a great deal of damage to the community and I hadn’t updated my policy.

We could open an insurance claim for a recent hail storm but the deductible is $25k. 

I hired a roofing contractor to take a look and he said the whole thing needs to be replaced in 3-4 years due to hail and wind damage and not the best install job either. 

If there's no Hail Damage, then there's no damage, and no claim to be made. 

Hail damage, in particular, is like a golden ticket to subrogation – it's my bread and butter.

We also just got hit with a gnarly hail storm so he's going to be doing my personal residence as well. 

I know Haile Plantation has newer, nice homes, another area off of 16th is a great area for families but its an older neighborhood.