They just seem to have the people and resources to best handle big issues like that. 

I'm a licenced Broker and I also handle project management for flippers, contractors, etc.FEMA 50% Rule: ALL of the homes that exist in a Flood Zone have a 50% limit on work that can be done to repair them without bringing them into compliance with current flood standards.

Any suggestions for how to handle this and still turn it into a rental (it will cashflow) are greatly appreciated!

If investors attempt to streamline their services, it can lead to a more organized approach to property management, lowers the risk of gaps in insurance coverage or missed tax benefits as well as simplifies communication and reduces confusion.

The real trick is making sure you’ve got a handle on who’s active in your target area.

Although we absolutely must do our comps for ARV and handle the Subs with an iron hand and blah, blah, blah....but a lot of this game is pure dumb luck.

So those fixed costs, like calling a plumber or replacing a fridge, are going to cost more, as a percentage of your rent, to handle.  

Consulting with a tax professional is advised to ensure compliance and proper handling of deadlines.This post does not create a CPA-Client relationship.

New Management:We weren’t satisfied with the way our property manager at the time handled the entire situation.

Sounds like lower non qualified / qualified ratio is the way to reduce CGs and depreciation recap.Furthermore, 1 property is owned by my elderly mother and can future reduce CGs via step-up at passing (assuming current step-up tax law)Property 1 (CA Condo $800k FMV, $450k basis, 10 year owned as 2nd home, wife+I are owner)Rent 2 year in CA (24mo rule), 1031 to WA, rent 1 year before converting to primary residence for 5 year before sale.Is qualified use years 10 (2nd residence) + 5?