We had enough reserves to weather some rehabs that were much more then expected.

It’s taking Seller a while to provide the HVAC report but while time passes after due diligence - Flooring cost is way too expensive at the price point they’re asking for 130K + Care of property never took place till decided to sell so I’m not comfortable any longer - Home sits on corner lot on a slight hill with crawl space - Lots of weather changes has caused the home to settle + improper supports needed. 

Determine how much money would be needed to handle each risk, and determine if you have sufficient liquidity / cash flow to ensure you can “stay in the game”.This is of course in addition to all normal “due diligence”, financial forecasting, etc. 

If you currently have a high cash flow income stream in place that allows you to weather the negative cash flow storm from your rental(s) with the intent of holding the property(ies) for appreciation, then it may make sense for you.

You also want to have reserve funds available to weather these hard times.

I suspect that the differences have to do with time of year and/or weather it is legal in the STR city.My STR is  MTR during the academic year which it is easy to smoke outside in the yard during STR season. 

Id either focus on flipping - maybe pick up some good deals now in the weather affected areas, or getting duplexes in other states less likely to be affected by Hurricanes. 

I’ve been in this building for 5 years and have only had one real issue where a pipe burst due to -20 degree weather.

Once the foundation is stabilized, make sure it is weather tight.

From there, there still may be operational issues such as the  property being too seasonal and having a bad weather season or the market simply losing popularity.