While no properties actually flooded, the entire area was a disaster - roads destroyed, rescues, loss of power, and loss of safe drinking water than lasted for two weeks.  

They have a ton of equity >$100K, <3%, but older home in need of roof, A/C, and water heater in next 5-10 years.

We were able to work a deal in the last 2 weeks before it was finalized, we had to pay the max amount of interest for back taxes and water bills and liens on the property.

Not sure how much your taxes increased, but one way to cheaply and quickly drop your monthly payment is to increase your deductible on your insurance for the time being (please speak to your insurance agent about what this means for you).  

It really depends on the scenario.If someone is in deep waters, BK, foreclosure, terrible credit, etc.You don't want to be above 60% LTV as that borrower has an incredible risk of default.

Happy to connectyou can drop me a message to chat more :)

Given your situation, it sounds like you’re facing a classic investor dilemma: do you throw more money at repairs to sell at a higher price, or do you cut your losses and drop the listing price?

We were able to work a deal in the last 2 weeks before it was finalized, we had to pay the max amount of interest for back taxes and water bills and liens on the property.

Sellers who are still on the market in Nov/Dec tend to be highly motivated and prices start dropping.

They use deposit slips and drop the rent off at the bank.