Are you concerned that if last 2 weeks turn into a risk off market downturn like 2022 and 2020, that BTC will drop as it did both those times as it is still one of the most risky of Risk On Assets?

There are definitely some challenges and concerns, like the infrastructure, but I have another friend that relocated there full time post the most recent hurricane and has been rebuilding a lot of the power grid.

Of course, if it concerns water, that is an emergency.

Might be worth paying for an inspection from one of them during DD if you're concerned about it. 

However, your concern about discrimination claims is valid.

I understand your concerns about not having an emergency fund, and I know his options can be polarizing, but Grant Cardone's perspective on financial management suggests, "Don’t save to save.

I'm not looking for crazy appreciation or overwhelming concerned in the event of a downturn because everything is structured in protection for and against.

Seems renovating this part of the attic would require ceiling insulation, drywall, flooring, electrical outlets, & heating source.My concern is that a reappraisal wouldn't add anything to legal square footage. 

Looking at AirDNA results, my biggest concern is occupancy rates, most of the calendars I look at have large gaps in them, and when you spend close to $500/sq. ft at current prices (in STR-designated areas), your property needs to rent well above 80% or you charge crazy nightly rates.We've also seen very few property management companies that charge less than 25% there (and 25% is rare), and some STR neighborhoods require you to use their designated PM (Desert Colors only allows Red Rock, and they are at 40% commissions - ouch!).

If a legal issue arises with Property 1, only that property’s assets would be at risk, protecting the equity in Property 2 and any other properties you may own.Asset Isolation: Isolating each property in its own LLC helps protect your assets from creditors or lawsuits targeting a specific property, thereby providing a more robust legal shield.Financial Management and Bookkeeping:Regarding your concern about financial management and the practicality of handling multiple LLCs:Centralized Banking: Using a holding company’s business account and credit card can simplify your bookkeeping.