Let's put the scenario in a vacuum for the sake of simplicity and say that both options are on the same block with the same external circumstances.

Therefore, while the neighborhood is certainly a major factor, it may not be the sole driver of high property costs.Beyond the Neighborhood:While the neighborhood undoubtedly contributes to a property's allure, it's essential to look beyond this singular factor and consider the various elements, both internal and external, that can influence property prices.

Only other disclosure up front is that my property manager is my own employee so I have a little bit more wiggle room on policies than those of you who have external PMs do, however I suggest you consult with them.

Now that we have the final footprints, he will move forward drafting water, sewer, electrical, external sidewalk and road layouts.Have excavation contractors digging 2 feet out of Storm pond to meet new building and parking sizes. 

According to my Insurance agent there was no additional cost to insure however the hot tub would not be covered if damaged by some external force (storm, fire . . . )  With that said you MUST have a good umbrella policy which are fairly inexpensive for 1-2 million dollars.    

This is called external obsolescence.  

A low moral person needs more external incentives to stay involved in a deal they sponsored but is now a major challenge.

Our lease mandates tenant insurance and clearly states it is the tenant’s responsibility to maintain their tenant insurance and that we are not responsible for external housing expenses.Virtually none of the LL have insurance to cover these repairs (only one of my units has insurance that would cover this type of flooding and this insurance is not cheap).  

Altho the data I am seeing internal and via external sources in Orl on 6+ sized homes here is not trending well at all. 5BR and 4BR are showing better resilience...

@Micah Dickson- I'd be happy to share.Nickel tour - our system receives requests, handles all scheduling and coordination between maintenance (internal/external) and tenants, notifies all parties of repair (including manager), reminds tenants day and hour before repair, follow-up with tenants to ensure satisfaction, tracks costs, and more.