Definitely a great city and only negative I see is the wild weather fluctuations. 

So, I would stick with well-maintained apartment complexes, self storage units, mobile home parks and possibly a short term rental in a desirable area (like the beach)- here's mine, outside of Charleston, in a gated community in Isle of Palms, SC called Wild Dunes: www.vrbo.com/1930478.

Your wild card now will be getting the refi appraisal to appraise properly.  

Because those can be wildly different- To the point above, if this is based off sale price it would include flips which I would argue artificially increase appreciation at the metro-level (especially in the short term)

If you just want to put the title on a business card, go wild. 

Contractor prices can vary wildly so make sure they are all bidding on the same scope of work and that the work you want them to do is inline with other properties in the area to get your ARV.PM if you need some references for lenders.

It is hard to predict the breaking point and there are wild cards like government assistance that can delay or prevent serious problems.

I can see how this upcoming November could be a wild card for some.

Plus material cost can vary wildly depending on area, time of year, natural disasters, quality of finish, brand, size, etc.

Welcome to the wild, exciting world of RE investing, Drew!