There is significant water damage in the kitchen and also mold (possibly from over time, but not sure).

One roof was storm damage and covered by insurance.

I purchased my Los Angeles (Compton) 4-bedroom home in 2013 for 240K; according to Redfin, it is now worth 686K. 2 years ago the entire house was completely renovated (Insurance claim) due to a burst pipe that caused extensive damage while vacant. 

.- Insurance companies do not typically cover termite damage unless the damage is so severe that it causes a floor/ceiling to collapse.

I want to first point out that the property needed renovation after apparently a storm that damaged the foundation of the home and it took about 7 months and a great deal of money to fix.

And this was after the buyer had paid the mortgage current.Proper sub-to contracts provide for significant liquidated damages in the event the seller behaves like this.

There are definitely downsides to each destination.Friends of ours, boat builders and lifetime sailors, actually went into the British Virgin Islands post hurricane and bought up damaged boats that they're fixing with a goal of launching their own charter company (which is a similar model to vacation rentals).

Storm damage should work the same way.

Bigger Pockets is a breathe of fresh air in a society where branding and marketing are overplayed. 

Ideally it would be a single family or small multi-unit that I could set up as an Air bnb or long term rental with the goal of moving to St Pete to live in within the next 5-10 years.