Just bear in mind that trips to Maui involve 'discretionary' funds...A few more things to think about during your due diligence. 1.

Why type of price point are you looking, what anticipated ROI/cash flow, how much time do you want to be involved in, what is your risk threshold, how long do you plan to hold the property, are you looking to invest locally or open to exploring other markets, etc.? 

With $50K—$100K, you could fund a rehab and refinance to free up most of your equity for the next deal.Cons: BRRRR often requires more hands-on involvement, especially managing contractors and timelines, which could be challenging with your demanding job and family obligations.

Getting multiple contractors involved will be your best bet to get a reliable estimate, though you need to come up with a scope of work.

It involves investing in strong growth markets, diversifying, and buying distressed properties.

This year they’re real estate syndicators; three years hence they’re running and selling oil drilling participations, after that they’re involved in fin tech.  

Our mortgage was significantly higher than our flood insurance, and I don't know if we qualify to try to apply for FEMA or if there is other assistance, and if so, if we would apply as a business (we file it on our personal taxes as rental income).

Like most things in real estate, a lot depends on the circumstances of the individuals involved and not just the numbers and figures.I hope this helps explain my thoughts, and I apologize for the lack of clarity when I defined "arbitrage".

There is a Fund of Funds involved.  

Being deeply involved in the local real estate market, I stay connected with wholesalers, realtors, and local investors who often share opportunities.