I’ve seen it happen...Anyway, here’s a great summary, courtesy of the amazing @Avery Carl, of the kind of numbers you can expect down south (including complete pro formas).

Quote from @Michael Dallas: Give them clear instructions and expectations.

Is it unreasonable that they would expect aid for a climate related impact?

If they don't know this is an expectation of yours they have no way of fulfilling it.If you still want to look for another one after that, we have agents in by brokerage all over the country that are investor friendly I'm sure I could help out.

This can be a game-changer, especially in neighborhoods like the South Loop or near revitalizing areas like Pilsen, where property values are expected to rise.Improvement Exchanges: Recent IRS rulings allow you to use exchange proceeds to make improvements on a replacement property while still qualifying for 1031 deferral benefits.

@Terrance Coleman - Nice, well if you're looking to do fix and flips in your market, I highly recommend you find someone doing fix and flips in your market and work to provide them as much value as possible / expect nothing in return. 

I may be wrong but I don't expect values to go anywhere for a while.

I'm in the Mesa/ Gilbert area of the state and have had some of my investors I work with purchase land right outside of town in the pathway of the expected growth of the town.

If you had the down payment, have you done the math for the expected rent, PITI and reserves to see if it would even be a viable investment strategy? 

I think it’s reasonable for tenant to pay deductible if it really was their fault, if that’s allowed by your policy, but seems weird to me that you could expect tenant to know hanging a picture in that one spot would cause a leak.