I'm kind of thinking that loading up on loans (smart loans, of course) might be the wise decision before that free capital starts to dry up. 

Assuming they are water tight and no termites, mold, or rot.

Ofcourse you take them down before you paint them, and put them back up after they dry

There's always going to moisture, termite, and wood rot issues. 

The market just went dry & we're competing against new construction in that neighborhood.Everyone asks us, "Why don't you just move back?"

When will buyers dry up and inventory increase?

Last night we had a contractor come in, assess the damage and then work on cleaning it all up, drying it out and spraying.

Rotted subfloor can be easily replaced. 

Well, a question like yours is indicative of a highly refined pallet, inviting an answer that goes something like this:I say you go for dried cherries (which in REI terms might means something like REIT or S&P).Now, to get a more specific answer, care to ask a more narrowly defined question?

This dirt compacted very hard under minimal water sprinkling and had standing water for 5+ hours in full sun 85 degree weather (beneath the standing water, the dirt was relatively dry - so it was holding water, not draining at all).