Personally, I am not very happy about it, but these historic properties will soar in value, when she does join.  

Historically, the S&P 500 has provided a rate of return that is likely twice what your conventional mortgage rate is.I would not consider paying off a RE investment conventional mortgage off early except to take more money out (i.e. a refinance pays off one mortgage to get replaced with a larger mortgage). 

July prices are lower than September despite seasonal historic decline every year after Labor day

Ten years ago 100$ a door worked  in non appreciating or areas with historic pricing that really never moves  IE local investors all back into the deals the same.. 100. a door never really worked.. you one bad turnover or a few months skipped rent or eviction from going negative.. and if there is no upward movement in value and I mean REAL appreciation not just 3% a year on 50k home  that's a whopping 1,500  which you would never realize. 

New Bern is a historic area for tourist and a retirement place for seniors.

I would think, on the other hand, those effected properties will have a signification price / value drop so you might be able to get some from those who just don't want to deal with that or just walk away.I'm a long term investor (10+ years) so i would worry about global warming, sea level rising, stronger storms and more flooding so i would probably avoid areas that was historically effected or might be effected in the near future.

This is near a historic district and some of the surrounding houses were built in 1910, 1905, etc.

The current tenant historically fell behind on their rent, and would catch up every year with their tax returns.

The definition of “bad deal” here would relate more to the opportunity cost of such investment compared to other investments (financial markets), than a real financial loss for the investor (i.e. ending up with less cash than originally invested).Let’s now modify a bit our assumptions by including some inflation in our model (say 2%, in line with historical average).

To determine how much they are willing to lend, the will need historical financials and a current rent roll of the property in order to determine the NOI.