A lot of investors are jumping to secondary lines of insurance coverage and the problem with those is that the companies are based in the Cayman Islands or the Bahamas a lot of the time, and it is suspect that they would actually pay out if the need arose unfortunately.   

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

Not sure if that is the case for you or if you are worried about burnout but if not, I would continue making extra as a nurse which will help with getting you approved based on income for future homes. 

@Patrick Hancock let's touch base next week

I also negotiated based on the home inspection findings.

Since I don't watch BP podcasts, I can't really compare for context and reader base. 

Loopnet has some comp information, but requires a paid (and not cheap) account to see it.Commercial properties are generally valued based on income, not comps per se. 

I recommend selecting an investment city based on the following criteria.Key Criteria for Choosing an Investment CityRents Must Outpace InflationFinancial freedom depends on rental income growing faster than inflation.

Loan interest is deductible based on it's use-not the asset securing it. 

Hello BP Members,I'm starting on the journey of an investor based out of Dallas, TX.