Older homes that aren’t elevated could suffer major damage when the next storm hits.Many expect market saturation in the coming months, as flippers are snapping up flood-damaged properties.

I have read and am currently reading books on real estate and real estate investing.Following my readings up to date, I am considering house hacking for my first deal in real estate.

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For example, I have an account set up for each of my rental properties.

I've also seen the extra space used to make a toy train set up for HO gage trains.  

Hey Brandon, Some would require some reserves, or at least to show cash to close on any new deal.Are you anticipating opening up a HELOC on your primary to get the cash needed to close? 

As another poster mentioned rates are lower than they've been in the previous 18+ months but unless some very surprising economic data comes out between now and when you did your refi it seems unlikely that rates are going up in the short term and there is at least a decent chance that rates drop a little more before then. 

Too bad you can't buy something owner-occupied, put 5% down with the best interest rate, live in it for 12 months (and fix it up), rent it out and repeat the cycle.Here's some other info you might find useful:----------------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

In addition, you would need enough working capital to pay for insurance (which will be going up a LOT in Los Angeles) and to pay for property taxes.Don't buy this unless you have substantial resources and a cash cushion to keep yourself safe.

We are in Sub-markets, which have led us to having a very small general contracting pool and can't find any contractors to keep up with demand.